Confluence Wealth Services Inc. Acquires 5,665 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Confluence Wealth Services Inc. grew its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 29.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,884 shares of the e-commerce giant's stock after purchasing an additional 5,665 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Amazon.com were worth $4,489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cherrydale Wealth Management LLC boosted its position in shares of Amazon.com by 14.7% in the fourth quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant's stock valued at $799,000 after acquiring an additional 675 shares during the period. Tompkins Financial Corp raised its stake in Amazon.com by 3.3% in the fourth quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant's stock valued at $10,875,000 after purchasing an additional 2,273 shares in the last quarter. Nicholas Company Inc. raised its stake in Amazon.com by 3.9% in the third quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant's stock valued at $89,628,000 after purchasing an additional 26,465 shares in the last quarter. Nordea Investment Management AB raised its stake in Amazon.com by 5.4% in the fourth quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant's stock valued at $825,065,000 after purchasing an additional 277,631 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. purchased a new stake in Amazon.com in the fourth quarter valued at approximately $1,891,000. Institutional investors own 72.20% of the company's stock.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 20,200 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the completion of the transaction, the chief executive officer now directly owns 514,131 shares in the company, valued at approximately $87,397,128.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the company's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $20,239,226.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 20,200 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total value of $3,433,798.00. Following the completion of the transaction, the chief executive officer now owns 514,131 shares of the company's stock, valued at $87,397,128.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,213,510 shares of company stock worth $5,505,811,286. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN traded up $5.72 during mid-day trading on Thursday, reaching $184.72. 54,236,734 shares of the company traded hands, compared to its average volume of 44,318,520. The company's 50 day moving average price is $178.79 and its 200-day moving average price is $159.95. The firm has a market cap of $1.92 trillion, a PE ratio of 51.74, a PEG ratio of 1.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 52 week low of $103.28 and a 52 week high of $189.77.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a return on equity of 20.73% and a net margin of 6.38%. The firm's revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 EPS. On average, equities analysts expect that Amazon.com, Inc. will post 4.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on AMZN. Oppenheimer lifted their price target on shares of Amazon.com from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of Amazon.com from $217.00 to $234.00 and gave the stock an "overweight" rating in a research note on Wednesday. DA Davidson reissued a "buy" rating and set a $235.00 price target on shares of Amazon.com in a research note on Thursday, April 18th. Argus lifted their price target on shares of Amazon.com from $185.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Truist Financial lifted their price target on shares of Amazon.com from $216.00 to $220.00 and gave the stock a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Amazon.com has an average rating of "Buy" and a consensus price target of $211.07.

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.

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