Essex Financial Services Inc. Purchases 771 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Essex Financial Services Inc. raised its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 31.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,247 shares of the e-commerce giant’s stock after purchasing an additional 771 shares during the period. Essex Financial Services Inc.’s holdings in Amazon.com were worth $3,143,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMZN. Harbour Capital Advisors LLC increased its position in Amazon.com by 100,947.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock valued at $2,379,000 after acquiring an additional 2,300,593 shares in the last quarter. State Street Corp increased its position in Amazon.com by 1.1% in the 1st quarter. State Street Corp now owns 16,544,538 shares of the e-commerce giant’s stock valued at $14,667,392,000 after acquiring an additional 186,756 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Amazon.com in the 1st quarter valued at about $157,189,000. Canada Pension Plan Investment Board increased its position in Amazon.com by 75.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 277,830 shares of the e-commerce giant’s stock valued at $268,939,000 after acquiring an additional 119,800 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Amazon.com by 11.9% in the 1st quarter. Clearbridge Investments LLC now owns 883,531 shares of the e-commerce giant’s stock valued at $783,286,000 after acquiring an additional 93,757 shares in the last quarter. 59.79% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Jeffrey P. Bezos sold 391,110 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $1,103.53, for a total transaction of $431,601,618.30. Following the transaction, the chief executive officer now directly owns 79,891,433 shares in the company, valued at $88,162,593,058.49. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Shelley Reynolds sold 544 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $1,126.27, for a total transaction of $612,690.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 399,538 shares of company stock worth $441,142,749. 17.00% of the stock is owned by corporate insiders.

Several equities research analysts have weighed in on the stock. Morgan Stanley restated a “buy” rating and issued a $1,250.00 price objective on shares of Amazon.com in a research report on Friday. Moffett Nathanson began coverage on shares of Amazon.com in a research note on Monday. They issued a “buy” rating on the stock. Goldman Sachs Group reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday. Oppenheimer reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday. Five analysts have rated the stock with a hold rating and forty-nine have issued a buy rating to the stock. Amazon.com has a consensus rating of “Buy” and an average price target of $1,209.59.

Amazon.com, Inc. (AMZN) traded down $28.40 during midday trading on Monday, hitting $1,133.95. 5,929,331 shares of the stock were exchanged, compared to its average volume of 3,584,597. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.00. Amazon.com, Inc. has a 12 month low of $742.00 and a 12 month high of $1,213.41. The firm has a market capitalization of $546,420.00, a P/E ratio of 295.01, a PEG ratio of 14.56 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.57). Amazon.com had a net margin of 1.20% and a return on equity of 8.67%. The business had revenue of $43.74 billion during the quarter, compared to analyst estimates of $42.26 billion. During the same quarter last year, the business earned $0.52 earnings per share. Amazon.com’s revenue for the quarter was up 33.7% on a year-over-year basis. sell-side analysts predict that Amazon.com, Inc. will post 4.24 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This story was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright law. The original version of this story can be read at https://www.dispatchtribunal.com/2017/12/04/essex-financial-services-inc-has-3-14-million-stake-in-amazon-com-inc-amzn.html.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

Receive News & Ratings for Amazon.com Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amazon.com Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply