Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 31.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,211 shares of the e-commerce giant's stock after selling 4,139 shares during the quarter. Amazon.com makes up 0.6% of Fortitude Family Office LLC's holdings, making the stock its 29th largest holding. Fortitude Family Office LLC's holdings in Amazon.com were worth $1,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Prudent Man Investment Management Inc. bought a new stake in Amazon.com during the fourth quarter valued at about $27,000. LSV Asset Management bought a new stake in Amazon.com during the fourth quarter valued at about $35,000. Perritt Capital Management Inc boosted its position in Amazon.com by 72.7% during 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. Compass Planning Associates Inc bought a new stake in Amazon.com during the fourth quarter valued at about $51,000. Finally, Quattro Financial Advisors LLC boosted its position in Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent research reports. BNP Paribas Exane raised Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price objective on the stock in a research report on Friday. DA Davidson reduced their price objective on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Evercore ISI reduced their price objective on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Telsey Advisory Group restated an "outperform" rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Amazon.com from $225.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Three investment analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.81.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.67, for a total transaction of $476,675.00. Following the completion of the transaction, the chief executive officer now directly owns 506,974 shares of the company's stock, valued at approximately $96,664,732.58. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,000,233.60. Following the transaction, the chief executive officer now directly owns 2,148,694 shares of the company's stock, valued at approximately $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 in the last quarter. 9.70% of the stock is owned by company insiders.

Amazon.com Stock Up 2.8%

NASDAQ AMZN traded up $6.18 during trading hours on Friday, hitting $223.30. 119,087,933 shares of the company were exchanged, compared to its average volume of 42,021,779. The company has a 50 day moving average of $202.26 and a two-hundred day moving average of $208.86. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 36.37, a PEG ratio of 1.68 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same quarter in the prior year, the business earned $0.98 EPS. Amazon.com's revenue was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

About Amazon.com

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.