Confluence Wealth Services Inc. Has $4.78 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Confluence Wealth Services Inc. boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,490 shares of the e-commerce giant’s stock after acquiring an additional 3,234 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Amazon.com were worth $4,784,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMZN. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com during the fourth quarter worth about $27,000. LSV Asset Management acquired a new stake in shares of Amazon.com during the fourth quarter worth about $35,000. Perritt Capital Management Inc raised its position in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares during the period. Inlight Wealth Management LLC acquired a new stake in shares of Amazon.com during the first quarter worth about $40,000. Finally, Capitol Family Office Inc. acquired a new stake in shares of Amazon.com during the first quarter worth about $42,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $229.19 on Tuesday. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The stock has a fifty day moving average of $213.50 and a 200-day moving average of $208.51. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The stock has a market cap of $2.43 trillion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMZN. Telsey Advisory Group reiterated an “outperform” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday, July 10th. Citizens Jmp began coverage on Amazon.com in a research note on Thursday, July 10th. They set a “strong-buy” rating for the company. JMP Securities lifted their target price on Amazon.com from $250.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Thursday, July 10th. Wells Fargo & Company lifted their target price on Amazon.com from $201.00 to $238.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group reduced their target price on Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $250.02.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 733,195 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total value of $166,449,928.90. Following the completion of the sale, the insider owned 894,546,706 shares of the company’s stock, valued at approximately $203,079,993,196.12. The trade was a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the sale, the chief executive officer directly owned 514,550 shares of the company’s stock, valued at approximately $113,231,873. This trade represents a 0.48% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,335,232 shares of company stock valued at $3,210,622,570. 10.80% of the stock is currently owned by corporate insiders.

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.