Confluence Wealth Services Inc. Acquires 3,234 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Confluence Wealth Services Inc. increased its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,490 shares of the e-commerce giant's stock after acquiring an additional 3,234 shares during the period. Confluence Wealth Services Inc.'s holdings in Amazon.com were worth $4,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the 4th quarter worth $27,000. LSV Asset Management purchased a new position in shares of Amazon.com in the 4th quarter worth $35,000. Perritt Capital Management Inc raised its position in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after buying an additional 80 shares during the period. Inlight Wealth Management LLC purchased a new position in shares of Amazon.com in the 1st quarter worth $40,000. Finally, Capitol Family Office Inc. purchased a new position in shares of Amazon.com in the 1st quarter worth $42,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Stock Down 0.2%

Shares of AMZN stock traded down $0.54 on Friday, hitting $231.69. The stock had a trading volume of 4,195,002 shares, compared to its average volume of 43,980,141. The business has a 50 day moving average of $215.14 and a 200 day moving average of $208.84. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 1.70 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company's quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Scotiabank raised their target price on Amazon.com from $250.00 to $275.00 and gave the company a "sector outperform" rating in a research note on Tuesday. Morgan Stanley raised their target price on Amazon.com from $250.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Citizens Jmp started coverage on Amazon.com in a research note on Thursday, July 10th. They set a "strong-buy" rating for the company. Finally, Oppenheimer raised their target price on Amazon.com from $215.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $254.33.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,339,470 shares of Amazon.com stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $229.39, for a total transaction of $536,651,023.30. Following the completion of the sale, the insider directly owned 887,933,999 shares in the company, valued at $203,683,180,030.61. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total transaction of $550,150.00. Following the transaction, the chief executive officer directly owned 514,550 shares in the company, valued at $113,231,873. This trade represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,947,939 shares of company stock valued at $4,720,588,785. 9.70% of the stock is currently owned by company 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.