Econ Financial Services Corp boosted its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 753.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,295 shares of the e-commerce giant's stock after acquiring an additional 28,512 shares during the period. Amazon.com accounts for about 3.1% of Econ Financial Services Corp's portfolio, making the stock its 5th biggest position. Econ Financial Services Corp's holdings in Amazon.com were worth $6,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Narwhal Capital Management lifted its stake in Amazon.com by 2.3% in the fourth quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant's stock valued at $49,997,000 after purchasing an additional 4,854 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Amazon.com by 21.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant's stock valued at $5,690,463,000 after purchasing an additional 4,275,942 shares during the period. Weaver Capital Management LLC increased its position in Amazon.com by 13.6% in the fourth quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant's stock worth $9,063,000 after buying an additional 4,713 shares during the last quarter. Ethos Financial Group LLC increased its position in Amazon.com by 9.6% in the fourth quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant's stock worth $8,421,000 after buying an additional 3,196 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. raised its stake in shares of Amazon.com by 1.9% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 239,862 shares of the e-commerce giant's stock valued at $52,667,000 after buying an additional 4,558 shares during the period. 72.20% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently commented on AMZN. Arete Research upped their price target on Amazon.com from $301.00 to $310.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Mizuho lifted their price objective on Amazon.com from $315.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. Maxim Group boosted their price objective on Amazon.com from $290.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Oppenheimer upped their price objective on shares of Amazon.com from $275.00 to $320.00 and gave the company an "outperform" rating in a report on Thursday, April 30th. Finally, Rosenblatt Securities increased their target price on shares of Amazon.com from $296.00 to $332.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.79.
View Our Latest Report on Amazon.com
Amazon.com Stock Performance
Shares of AMZN opened at $242.67 on Friday. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The company has a market capitalization of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The firm's 50 day simple moving average is $254.57 and its 200 day simple moving average is $234.57.
Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business's quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. Sell-side analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.
Insider Activity at Amazon.com
In other Amazon.com news, CEO Douglas J. Herrington sold 1,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total transaction of $239,770.00. Following the sale, the chief executive officer owned 484,527 shares in the company, valued at $116,175,038.79. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the firm's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total value of $620,003.94. Following the sale, the vice president owned 119,780 shares in the company, valued at $31,427,876.40. The trade was a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock worth $51,643,704 in the last three months. 8.90% of the stock is owned by insiders.
Key Headlines Impacting Amazon.com
Here are the key news stories impacting Amazon.com this week:
About Amazon.com
(
Free Report)
Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.
Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.
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