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

Elevate Capital Advisors LLC bought a new position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 21,335 shares of the e-commerce giant's stock, valued at approximately $4,681,000. Amazon.com comprises about 4.1% of Elevate Capital Advisors LLC's investment portfolio, making the stock its 3rd biggest holding.

A number of other hedge funds have also made changes to their positions in the company. Accordant Advisory Group Inc increased its stake in shares of Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after buying an additional 100 shares in the last quarter. Icon Wealth Advisors LLC increased its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after acquiring an additional 25,581 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com in the third quarter worth about $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the third quarter worth about $45,000. Finally, Quattro Financial Advisors LLC lifted 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 worth $51,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares of the company's stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,298 shares of company stock valued at $22,871,828 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AMZN shares. Mizuho boosted their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Rosenblatt Securities upped their target price on shares of Amazon.com from $236.00 to $287.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Phillip Securities lowered shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 10th. Stifel Nicolaus upped their target price on shares of Amazon.com from $245.00 to $275.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, JMP Securities restated a "market outperform" rating and issued a $285.00 price target on shares of Amazon.com in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amazon.com has an average rating of "Moderate Buy" and a consensus target price of $260.65.

Amazon.com Stock Performance

NASDAQ AMZN traded up $2.05 on Tuesday, hitting $196.59. 52,319,970 shares of the stock were exchanged, compared to its average volume of 39,196,863. The business's fifty day moving average is $223.57 and its 200 day moving average is $207.12. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a market capitalization of $2.08 trillion, a PE ratio of 35.55, a P/E/G ratio of 1.50 and a beta of 1.19. 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 (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.