7,778 Shares in Amazon.com, Inc. (NASDAQ:AMZN) Bought by Econ Financial Services Corp

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

A number of other hedge funds have also made changes to their positions in the business. Moran Wealth Management LLC grew its holdings in Amazon.com by 254.4% during the 1st quarter. Moran Wealth Management LLC now owns 68,976 shares of the e-commerce giant's stock worth $13,123,000 after acquiring an additional 49,515 shares in the last quarter. Fourth Dimension Wealth LLC grew its holdings in Amazon.com by 11.2% during the 1st quarter. Fourth Dimension Wealth LLC now owns 28,278 shares of the e-commerce giant's stock worth $5,380,000 after acquiring an additional 2,847 shares in the last quarter. Symmetry Partners LLC grew its holdings in Amazon.com by 2.6% during the 1st quarter. Symmetry Partners LLC now owns 11,295 shares of the e-commerce giant's stock worth $2,149,000 after acquiring an additional 287 shares in the last quarter. Leading Edge Financial Planning LLC grew its holdings in Amazon.com by 36.0% during the 1st quarter. Leading Edge Financial Planning LLC now owns 1,511 shares of the e-commerce giant's stock worth $287,000 after acquiring an additional 400 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its holdings in Amazon.com by 1.2% during the 1st quarter. Cornerstone Wealth Group LLC now owns 81,174 shares of the e-commerce giant's stock worth $15,444,000 after acquiring an additional 988 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ AMZN traded up $0.69 during midday trading on Thursday, reaching $223.88. The company's stock had a trading volume of 31,769,801 shares, compared to its average volume of 42,044,088. 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 company has a 50 day moving average price of $212.21 and a 200 day moving average price of $208.60. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a market cap of $2.38 trillion, a price-to-earnings ratio of 36.46, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its 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. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion for the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the firm posted $0.98 earnings per share. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Amazon.com from $201.00 to $238.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Citizens Jmp assumed coverage on shares of Amazon.com in a report on Thursday, July 10th. They issued a "strong-buy" rating for the company. Evercore ISI decreased their price target on shares of Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen lowered shares of Amazon.com from a "buy" rating to a "hold" rating in a report on Monday, May 5th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $250.35.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 19,872 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction 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 approximately $432,532,102.20. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,602,037 shares of company stock valued at $3,044,172,641. Corporate insiders own 9.70% of the company's stock.

Amazon.com 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.