Amazon.com, Inc. (NASDAQ:AMZN) is Convergence Investment Partners LLC’s 3rd Largest Position

Convergence Investment Partners LLC boosted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 49.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 44,107 shares of the e-commerce giant’s stock after purchasing an additional 14,583 shares during the quarter. Amazon.com comprises about 2.5% of Convergence Investment Partners LLC’s holdings, making the stock its 3rd biggest holding. Convergence Investment Partners LLC’s holdings in Amazon.com were worth $8,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 4th quarter valued at $30,000. PayPay Securities Corp increased its position in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares during the last quarter. Clarity Asset Management Inc. purchased a new stake in Amazon.com during the fourth quarter valued at $46,000. Christopher J. Hasenberg Inc lifted its holdings in 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 acquiring an additional 260 shares during the period. Finally, Steph & Co. bought a new stake in shares of Amazon.com during the 1st quarter valued at about $65,000. 72.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMZN. TD Cowen boosted their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler cut their price target on Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Truist Financial raised their price objective on Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research initiated coverage on Amazon.com in a research note on Tuesday, July 16th. They set an “outperform” rating and a $250.00 price objective for the company. Finally, Itau BBA Securities cut shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research note on Friday, August 2nd. One investment 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’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $223.65.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,634,860 shares of company stock worth $926,639,482. 10.80% of the stock is currently owned by company insiders.

Amazon.com Stock Down 0.9 %

Shares of NASDAQ:AMZN opened at $186.33 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 52.19, a PEG ratio of 1.46 and a beta of 1.14. The stock’s 50-day moving average price is $179.00 and its two-hundred day moving average price is $182.74. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20.

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. The business had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, research analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

Amazon.com Company Profile

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.