Econ Financial Services Corp Invests $1.48 Million in Amazon.com, Inc. (NASDAQ:AMZN)

Econ Financial Services Corp bought a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,778 shares of the e-commerce giant’s stock, valued at approximately $1,480,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Amazon.com during the fourth quarter worth $27,266,582,000. GAMMA Investing LLC increased its holdings in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after buying an additional 30,104,520 shares during the last quarter. Capital World Investors increased its holdings in Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after buying an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. increased its holdings in Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after buying an additional 17,635,391 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after buying an additional 12,018,120 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $223.19 on Thursday. The stock has a market cap of $2.37 trillion, a P/E ratio of 36.35, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average is $212.21 and its 200-day moving average is $208.60. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 earnings per share. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Telsey Advisory Group restated an “outperform” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Amazon.com from $240.00 to $255.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft cut their price target on Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a report on Monday, April 14th. Finally, JMP Securities raised their price target on Amazon.com from $250.00 to $285.00 and gave the company a “market outperform” rating in a report on Thursday, July 10th. Three investment analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $250.35.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,000,233.60. Following the transaction, the chief executive officer directly owned 2,148,694 shares of the company’s stock, valued at $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew S. Garman sold 20,923 shares of Amazon.com stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. Insiders have sold a total of 13,602,037 shares of company stock valued at $3,044,172,641 over the last ninety days. 9.70% of the stock is owned by company insiders.

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.