Connors Investor Services Inc. Takes $5.37 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Connors Investor Services Inc. purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,560 shares of the e-commerce giant’s stock, valued at approximately $5,367,000.

Several other hedge funds have also recently added to or reduced their stakes in AMZN. White Pine Investment CO boosted its stake in Amazon.com by 2.3% in the first quarter. White Pine Investment CO now owns 131 shares of the e-commerce giant’s stock valued at $405,000 after acquiring an additional 3 shares in the last quarter. Endurance Wealth Management Inc. boosted its stake in Amazon.com by 0.4% in the second quarter. Endurance Wealth Management Inc. now owns 848 shares of the e-commerce giant’s stock valued at $2,917,000 after acquiring an additional 3 shares in the last quarter. Rockbridge Investment Management LCC boosted its stake in Amazon.com by 0.5% in the second quarter. Rockbridge Investment Management LCC now owns 581 shares of the e-commerce giant’s stock valued at $1,999,000 after acquiring an additional 3 shares in the last quarter. Chilton Investment Co. LLC boosted its stake in Amazon.com by 0.7% in the second quarter. Chilton Investment Co. LLC now owns 423 shares of the e-commerce giant’s stock valued at $1,455,000 after acquiring an additional 3 shares in the last quarter. Finally, ICW Investment Advisors LLC boosted its stake in Amazon.com by 1.0% in the second quarter. ICW Investment Advisors LLC now owns 293 shares of the e-commerce giant’s stock valued at $1,008,000 after acquiring an additional 3 shares in the last quarter. 57.67% of the stock is currently owned by hedge funds and other institutional investors.

In other Amazon.com news, Director Jonathan Rubinstein sold 286 shares of the stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $3,500.00, for a total transaction of $1,001,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 222 shares of the stock in a transaction that occurred on Monday, August 16th. The stock was sold at an average price of $3,283.00, for a total transaction of $728,826.00. Following the transaction, the vice president now directly owns 6,211 shares in the company, valued at approximately $20,390,713. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,463 shares of company stock worth $14,784,642. 14.00% of the stock is currently owned by insiders.

Shares of NASDAQ AMZN opened at $3,450.00 on Wednesday. Amazon.com, Inc. has a 1 year low of $2,871.00 and a 1 year high of $3,773.08. The firm’s 50 day moving average price is $3,459.88 and its 200 day moving average price is $3,334.44. The firm has a market cap of $1.75 trillion, a P/E ratio of 60.14, a price-to-earnings-growth ratio of 2.41 and a beta of 1.14. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Wednesday, July 28th. The e-commerce giant reported $15.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $12.22 by $2.90. The company had revenue of $113.08 billion for the quarter, compared to the consensus estimate of $115.08 billion. Amazon.com had a net margin of 6.64% and a return on equity of 29.86%. As a group, equities analysts predict that Amazon.com, Inc. will post 52.18 EPS for the current year.

AMZN has been the subject of a number of research reports. Susquehanna reduced their target price on shares of Amazon.com from $5,500.00 to $5,000.00 and set a “positive” rating for the company in a report on Friday, July 30th. Mizuho reduced their target price on shares of Amazon.com from $4,400.00 to $4,100.00 and set a “buy” rating for the company in a report on Friday, July 30th. Benchmark reduced their target price on shares of Amazon.com from $4,400.00 to $4,200.00 and set a “buy” rating for the company in a report on Friday, July 30th. Jefferies Financial Group initiated coverage on shares of Amazon.com in a report on Friday, July 30th. They issued a “buy” rating and a $4,200.00 target price for the company. Finally, Raymond James reduced their target price on shares of Amazon.com from $4,125.00 to $3,900.00 and set an “outperform” rating for the company in a report on Friday, July 30th. One research analyst has rated the stock with a hold rating and forty have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $4,151.30.

About Amazon.com

Amazon.com, Inc engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca.

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

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