Forest Avenue Capital Management LP Makes New $103.55 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Forest Avenue Capital Management LP purchased a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 471,984 shares of the e-commerce giant's stock, valued at approximately $103,549,000. Amazon.com accounts for about 9.5% of Forest Avenue Capital Management LP's investment portfolio, making the stock its biggest holding.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. State Street Corp increased its position in shares of Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock worth $66,926,008,000 after acquiring an additional 11,370,309 shares during the period. FMR LLC grew its position in shares of Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock worth $44,837,256,000 after acquiring an additional 5,015,380 shares during the period. Finally, Norges Bank purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $27,266,582,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 27,500 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares of the company's stock, valued at $114,459,618.09. This represents a 5.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the transaction, the vice president now owns 119,780 shares of the company's stock, valued at approximately $26,647,456.60. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,298 shares of company stock valued at $23,818,478 in the last quarter. Insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AMZN shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $235.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and set a $220.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Cantor Fitzgerald boosted their price target on Amazon.com from $230.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Maxim Group lifted their price target on shares of Amazon.com from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Royal Bank of Canada lowered their price target on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.09.

Amazon.com Price Performance

Shares of Amazon.com stock traded up $2.73 during midday trading on Tuesday, reaching $211.37. The company had a trading volume of 55,966,898 shares, compared to its average volume of 41,981,128. The company has a market capitalization of $2.24 trillion, a price-to-earnings ratio of 38.22, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock has a fifty day simple moving average of $188.50 and a 200 day simple moving average of $208.25. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, equities research analysts forecast 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.