Elevate Capital Advisors LLC Purchases New Position in Amazon.com, Inc. (NASDAQ:AMZN)

Elevate Capital Advisors LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 21,335 shares of the e-commerce giant’s stock, valued at approximately $4,681,000. Amazon.com makes up 4.1% of Elevate Capital Advisors LLC’s holdings, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Accordant Advisory Group Inc boosted its stake in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. Hoese & Co LLP purchased a new position in Amazon.com during the 3rd quarter valued at about $37,000. Quattro Financial Advisors LLC increased its position in shares of 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 buying an additional 45 shares during the period. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter worth about $45,000. Finally, Iron Horse Wealth Management LLC boosted its position in shares of Amazon.com by 64.4% in the fourth quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock valued at $63,000 after acquiring an additional 112 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $199.25 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a 50-day moving average of $224.11 and a 200 day moving average of $206.61. The company has a market cap of $2.11 trillion, a P/E ratio of 36.03, a PEG ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,649 shares of company stock valued at $23,871,905 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AMZN shares. Jefferies Financial Group upped their target price on shares of Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Sanford C. Bernstein upped their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. UBS Group lifted their price objective on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a report on Friday, February 7th. Finally, Barclays boosted their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $260.65.

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.