Convergence Financial LLC Has $5.44 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Convergence Financial LLC grew its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,209 shares of the e-commerce giant’s stock after buying an additional 1,063 shares during the period. Amazon.com accounts for about 1.2% of Convergence Financial LLC’s holdings, making the stock its 21st biggest holding. Convergence Financial LLC’s holdings in Amazon.com were worth $5,443,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AMZN. Vanguard Group Inc. grew its stake in Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Capital Research Global Investors grew its stake in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Legal & General Group Plc boosted its holdings in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Amazon.com by 7.4% in the first quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock worth $7,642,732,000 after acquiring an additional 2,932,192 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC increased their price target on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Telsey Advisory Group increased their price target on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Maxim Group increased their price target on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Roth Mkm increased their price target on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Morgan Stanley increased their price target on Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $236.20.

Amazon.com Trading Up 1.0 %

Shares of AMZN stock opened at $207.89 on Friday. The stock has a market capitalization of $2.19 trillion, a PE ratio of 44.52, a P/E/G ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a 1-year low of $142.81 and a 1-year high of $215.90. The business has a 50-day moving average of $194.78 and a 200 day moving average of $186.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

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

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.