Convergence Financial LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Convergence Financial LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,365 shares of the e-commerce giant’s stock after purchasing an additional 156 shares during the quarter. Amazon.com makes up approximately 1.3% of Convergence Financial LLC’s investment portfolio, making the stock its 21st largest position. Convergence Financial LLC’s holdings in Amazon.com were worth $6,442,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc increased its holdings 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 purchasing an additional 100 shares during the last quarter. Compass Planning Associates Inc purchased a new stake in Amazon.com in the 4th quarter valued at $51,000. Quattro Financial Advisors LLC increased its stake in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 45 shares during the last quarter. Iron Horse Wealth Management LLC raised its holdings in shares of Amazon.com by 64.4% during the 4th quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock worth $63,000 after acquiring an additional 112 shares during the period. Finally, Sycomore Asset Management boosted its position in shares of Amazon.com by 100.0% during the 4th quarter. Sycomore Asset Management now owns 300 shares of the e-commerce giant’s stock valued at $66,000 after acquiring an additional 150 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMZN has been the subject of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Phillip Securities cut Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 10th. Tigress Financial raised their target price on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Benchmark upped their price target on Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.65.

Amazon.com Trading Down 4.3 %

NASDAQ AMZN opened at $192.72 on Friday. The firm’s fifty day moving average price is $216.86 and its 200 day moving average price is $209.08. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the transaction, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 19,212 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $217.50, for a total value of $4,178,610.00. Following the sale, the senior vice president now directly owns 49,950 shares of the company’s stock, valued at approximately $10,864,125. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,298 shares of company stock valued at $22,871,828 over the last quarter. Company insiders own 10.80% of the company’s stock.

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.