Fortis Advisors LLC Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Fortis Advisors LLC reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,190 shares of the e-commerce giant’s stock after selling 94 shares during the period. Amazon.com makes up about 0.9% of Fortis Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Fortis Advisors LLC’s holdings in Amazon.com were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com during the third quarter valued at approximately $45,000. Values First Advisors Inc. acquired a new position in shares of Amazon.com during the third quarter worth $56,000. Finally, Christopher J. Hasenberg Inc boosted its stake in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. TD Cowen boosted their price target on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Sanford C. Bernstein raised their price objective on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Mizuho upped their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Roth Mkm raised their price target on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Trading Down 1.5 %

Amazon.com stock opened at $223.75 on Monday. Amazon.com, Inc. has a 12-month low of $144.05 and a 12-month high of $233.00. The stock has a market capitalization of $2.35 trillion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The firm has a 50 day simple moving average of $209.73 and a 200-day simple moving average of $192.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.85 EPS. As a group, equities research analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the sale, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last three months. Company insiders own 10.80% of the company’s stock.

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.