Fred Alger Management Adds Nearly 1 Million Shares to its AMZN Position

According to a recent Form 13F filing submitted to the SEC, Fred Alger Management, LLC disclosed a noteworthy and bullish position in AMZN stock. Here’s what you need to know about Amazon.com, Inc., as well as Fred Alger Management’s position in shares of AMZN stock:

About Amazon.com, Inc. (NASDAQ: AMZN)

Amazon.com, Inc. engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores. The company also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Rings, and Echo and other devices; provides Kindle Direct Publishing, an online service that allows independent authors and publishers to make their books available in the Kindle Store; and develops and produces media content. In addition, it offers programs that enable sellers to sell their products on its websites, as well as its stores; and programs that allow authors, musicians, filmmakers, Twitch streamers, skill and app developers, and others to publish and sell content. Further, the company provides compute, storage, database, analytics, machine learning, and other services, as well as fulfillment, advertising, publishing, and digital content subscriptions. Additionally, it offers Amazon Prime, a membership program, which provides free shipping of various items; access to streaming of movies and series; and other services. The company serves consumers, sellers, developers, enterprises, and content creators. Amazon.com, Inc. was incorporated in 1994 and is headquartered in Seattle, Washington. Learn more about Amazon.com, Inc. on their website here

Fred Alger Management Position in AMZN

According to the most recent 13F filed by Fred Alger Management, the firm added 912,164 shares of AMZN stock to it holdings in the recent quarter. That brings their total long position in Amazon.com, Inc. to 8,731,285 shares, representing approximately 0.0856% of the entire 10,201,700,226 AMZN shares outstanding. Based on the most recent closing price of $98.49 per share of AMZN, the entire Fred Alger Management position in Amazon.com, Inc. stock is worth roughly $859,944,259.65.

Summary

Be sure to check out more recent 13F filings here to stay up to date on the latest disclosures from institutional investment managers like Fred Alger Management. Also be sure to check out more recent 13F filing analysis news here.