Confluence Wealth Services Inc. Has $5.17 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Confluence Wealth Services Inc. boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 7.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,760 shares of the e-commerce giant’s stock after acquiring an additional 1,876 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Amazon.com were worth $5,171,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cooksen Wealth LLC acquired a new position in shares of Amazon.com in the 4th quarter valued at $30,000. Clarity Asset Management Inc. acquired a new stake in Amazon.com during the 4th quarter valued at $46,000. Christopher J. Hasenberg Inc raised its holdings 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 buying an additional 260 shares during the last quarter. Steph & Co. acquired a new position in shares of Amazon.com during the first quarter worth approximately $65,000. Finally, Advantage Trust Co bought a new position in Amazon.com in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 1.7 %

Shares of Amazon.com stock opened at $187.97 on Friday. The firm has a market cap of $1.97 trillion, a PE ratio of 52.65, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. Amazon.com, Inc. has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The business’s fifty day moving average is $178.83 and its two-hundred day moving average is $182.48.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The disclosure for this sale can be found here. Insiders have sold 6,101,797 shares of company stock valued at $1,220,129,922 over the last three months. 10.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Roth Mkm increased their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price objective on shares of Amazon.com in a research note on Thursday, September 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a research report on Monday, September 23rd. Finally, Evercore ISI upped their target price on shares of Amazon.com from $225.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, September 20th. One research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $222.84.

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.