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.
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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.
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