Confluence Wealth Services Inc. Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Confluence Wealth Services Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 12.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,517 shares of the e-commerce giant’s stock after selling 3,243 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Amazon.com were worth $4,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. PayPay Securities Corp lifted its position in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at about $45,000. Values First Advisors Inc. acquired a new stake in Amazon.com in the third quarter valued at about $56,000. Finally, Christopher J. Hasenberg Inc lifted its position in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 0.5 %

Shares of NASDAQ AMZN opened at $225.04 on Wednesday. Amazon.com, Inc. has a 52-week low of $143.64 and a 52-week high of $230.08. The firm has a fifty day moving average of $198.19 and a 200-day moving average of $188.47. The stock has a market capitalization of $2.37 trillion, a PE ratio of 48.19, a P/E/G ratio of 1.52 and a beta of 1.16. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the company earned $0.85 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current year.

Wall Street Analysts Forecast Growth

AMZN has been the subject of a number of recent analyst reports. Roth Mkm raised their price objective on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday. Rosenblatt Securities raised their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Mizuho lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday. Monness Crespi & Hardt lifted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Sanford C. Bernstein lifted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.42.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,030,183 shares of company stock valued at $1,252,883,795 in the last ninety days. Company insiders own 10.80% of the company’s stock.

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.