Fernbridge Capital Management LP Has $56.31 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Mar 14th, 2023

Fernbridge Capital Management LP lifted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 72.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 498,295 shares of the e-commerce giant’s stock after acquiring an additional 209,613 shares during the quarter. Amazon.com accounts for 7.7% of Fernbridge Capital Management LP’s portfolio, making the stock its 5th largest holding. Fernbridge Capital Management LP’s holdings in Amazon.com were worth $56,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of AMZN. Bridgefront Capital LLC acquired a new stake in shares of Amazon.com in the first quarter worth $228,000. Krane Funds Advisors LLC boosted its position in shares of Amazon.com by 239.1% in the first quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock worth $254,000 after buying an additional 55 shares during the period. Range Financial Group LLC acquired a new stake in shares of Amazon.com in the first quarter worth $258,000. My Personal CFO LLC acquired a new stake in shares of Amazon.com in the first quarter worth $261,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Amazon.com in the first quarter worth $191,000. 57.64% of the stock is owned by institutional investors.

Amazon.com Stock Up 1.9 %

NASDAQ AMZN opened at $92.43 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $96.01 and its two-hundred day moving average is $102.24. The company has a market capitalization of $947.15 billion, a price-to-earnings ratio of -344.88, a PEG ratio of 3.74 and a beta of 1.25. Amazon.com, Inc. has a 1-year low of $81.43 and a 1-year high of $170.83.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The company had revenue of $149.20 billion for the quarter, compared to analyst estimates of $145.72 billion. Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.39 earnings per share. Equities analysts forecast that Amazon.com, Inc. will post 1.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Adam Selipsky sold 5,100 shares of Amazon.com stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total value of $568,293.00. Following the completion of the transaction, the chief executive officer now owns 124,180 shares in the company, valued at $13,837,377.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Adam Selipsky sold 5,100 shares of Amazon.com stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total value of $568,293.00. Following the completion of the transaction, the chief executive officer now owns 124,180 shares in the company, valued at $13,837,377.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $94.91, for a total transaction of $332,185.00. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $11,368,319.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,394 shares of company stock worth $6,994,626. Insiders own 12.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on AMZN shares. JMP Securities reaffirmed a “market outperform” rating and issued a $140.00 target price on shares of Amazon.com in a research report on Friday, February 3rd. Wolfe Research increased their price objective on Amazon.com from $115.00 to $130.00 in a report on Friday, February 3rd. Evercore ISI increased their price objective on Amazon.com from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Barclays increased their price objective on Amazon.com from $130.00 to $150.00 in a report on Friday, February 3rd. Finally, MKM Partners cut their price objective on Amazon.com from $145.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, January 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.87.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.