Fortis Group Advisors LLC Sells 820 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Fortis Group Advisors LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,988 shares of the e-commerce giant’s stock after selling 820 shares during the quarter. Amazon.com accounts for about 1.5% of Fortis Group Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Fortis Group Advisors LLC’s holdings in Amazon.com were worth $8,383,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AMZN. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in Amazon.com in the third quarter valued at about $37,000. Christopher J. Hasenberg Inc grew its stake in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the last quarter. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Amazon.com during the first quarter worth approximately $69,000. Finally, Innealta Capital LLC bought a new position in shares of Amazon.com in the second quarter valued at approximately $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMZN. Rosenblatt Securities increased their price target on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their target price on Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays lifted their price target on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Telsey Advisory Group raised their price objective on shares of Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.77.

Amazon.com Stock Performance

Shares of AMZN opened at $197.12 on Friday. The firm’s 50 day moving average price is $193.00 and its two-hundred day moving average price is $186.31. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a twelve month low of $142.81 and a twelve month high of $215.90. The firm has a market cap of $2.07 trillion, a P/E ratio of 42.21, a PEG ratio of 1.33 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. On average, analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,011,423 shares of company stock valued at $1,249,093,896. 10.80% of the stock is owned by insiders.

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.