Convergence Financial LLC Increases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Convergence Financial LLC lifted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,365 shares of the e-commerce giant’s stock after buying an additional 156 shares during the period. Amazon.com comprises 1.3% of Convergence Financial LLC’s investment portfolio, making the stock its 21st biggest holding. Convergence Financial LLC’s holdings in Amazon.com were worth $6,442,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AMZN. Accordant Advisory Group Inc lifted its holdings in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Icon Wealth Advisors LLC increased its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares in the last quarter. Quattro Financial Advisors LLC increased its holdings in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. Compass Planning Associates Inc acquired a new stake in shares of Amazon.com in the fourth quarter valued at about $51,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Amazon.com by 64.4% during the fourth quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock worth $63,000 after buying an additional 112 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,298 shares of company stock worth $22,871,828. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 4.3 %

AMZN opened at $192.72 on Friday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a 50 day moving average price of $216.86 and a 200 day moving average price of $209.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company has a market cap of $2.04 trillion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. JMP Securities reaffirmed a “market outperform” rating and issued a $285.00 target price on shares of Amazon.com in a report on Friday, February 7th. Tigress Financial boosted their target price on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Wells Fargo & Company dropped their price target on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 25th. Wolfe Research boosted their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.65.

Amazon.com Company 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.