Amazon.com, Inc. (NASDAQ:AMZN) Position Boosted by Forte Asset Management LLC

Key Points

• Forte Asset Management LLC increased its stake in Amazon.com by 55.5%, owning a total of 4,688 shares worth approximately $892,000 after purchasing an additional 1,673 shares in the first quarter.
• Several analysts have adjusted their target prices for Amazon.com, with estimates now ranging from $195.00 to $260.00, while the consensus rating for the stock remains a "Moderate Buy".
• Amazon's most recent earnings report showed a 13.3% year-over-year increase in revenue, with earnings per share coming in at $1.68, which surpassed analyst estimates of $1.31.

Forte Asset Management LLC increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 55.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,688 shares of the e-commerce giant's stock after buying an additional 1,673 shares during the period. Forte Asset Management LLC's holdings in Amazon.com were worth $892,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC bought a new position in shares of Amazon.com in the fourth quarter valued at approximately $25,000. Prudent Man Investment Management Inc. bought a new position in shares of Amazon.com in the fourth quarter valued at approximately $27,000. LSV Asset Management bought a new position in shares of Amazon.com in the fourth quarter valued at approximately $35,000. Inlight Wealth Management LLC bought a new position in shares of Amazon.com in the first quarter valued at approximately $40,000. Finally, Perritt Capital Management Inc lifted its holdings in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

Amazon.com stock traded down $19.36 during mid-day trading on Friday, reaching $214.75. The company's stock had a trading volume of 122,007,379 shares, compared to its average volume of 37,811,656. The firm has a market cap of $2.28 trillion, a price-to-earnings ratio of 32.74, a PEG ratio of 1.59 and a beta of 1.31. The business has a 50 day moving average price of $218.20 and a 200-day moving average price of $209.21. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The firm had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. The firm's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.26 earnings per share. Sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. Insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMZN shares. Cantor Fitzgerald increased their price target on Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amazon.com in a research report on Friday. Rosenblatt Securities increased their price target on Amazon.com from $288.00 to $297.00 and gave the company a "buy" rating in a research report on Friday. Jefferies Financial Group raised their target price on Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. Finally, Tigress Financial boosted their target price on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, forty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has an average rating of "Buy" and an average target price of $260.85.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.