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

Confluence Wealth Services Inc. lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,219 shares of the e-commerce giant’s stock after purchasing an additional 1,778 shares during the period. Confluence Wealth Services Inc.’s holdings in Amazon.com were worth $2,920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Landmark Financial Advisors LLC increased its holdings in Amazon.com by 2.7% during the 3rd quarter. Landmark Financial Advisors LLC now owns 8,907 shares of the e-commerce giant’s stock worth $1,132,000 after purchasing an additional 236 shares during the last quarter. Cypress Wealth Services LLC increased its stake in shares of Amazon.com by 3.9% in the third quarter. Cypress Wealth Services LLC now owns 20,370 shares of the e-commerce giant’s stock worth $2,589,000 after buying an additional 759 shares during the last quarter. Divergent Planning LLC boosted its stake in Amazon.com by 4.6% during the 3rd quarter. Divergent Planning LLC now owns 1,792 shares of the e-commerce giant’s stock valued at $230,000 after acquiring an additional 79 shares during the last quarter. Worth Financial Advisory Group LLC grew its holdings in Amazon.com by 5.3% during the 3rd quarter. Worth Financial Advisory Group LLC now owns 28,912 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 1,450 shares in the last quarter. Finally, Thrive Wealth Management LLC increased its position in shares of Amazon.com by 71.8% in the 3rd quarter. Thrive Wealth Management LLC now owns 23,488 shares of the e-commerce giant’s stock worth $2,986,000 after purchasing an additional 9,813 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Down 1.7 %

Shares of NASDAQ:AMZN opened at $173.67 on Friday. The firm has a 50 day simple moving average of $177.79 and a 200 day simple moving average of $158.23. Amazon.com, Inc. has a 52 week low of $101.15 and a 52 week high of $189.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05. The company has a market cap of $1.80 trillion, a PE ratio of 59.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.19. The company had revenue of $169.96 billion for the quarter, compared to the consensus estimate of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 EPS. As a group, research analysts expect that Amazon.com, Inc. will post 4.1 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the transaction, the chief executive officer now owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $155.72, for a total transaction of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at $18,150,723.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the transaction, the insider now owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,214,010 shares of company stock valued at $5,505,889,146. Corporate insiders own 10.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Amazon.com from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Truist Financial lifted their target price on Amazon.com from $195.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. DA Davidson reissued a “buy” rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday, April 18th. Monness Crespi & Hardt lifted their price objective on shares of Amazon.com from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Citigroup increased their target price on shares of Amazon.com from $215.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $205.13.

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.