Convergence Investment Partners LLC Has $3.08 Million Position in Amazon.com, Inc. (AMZN)
Convergence Investment Partners LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 54.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,183 shares of the e-commerce giant’s stock after buying an additional 1,124 shares during the quarter. Convergence Investment Partners LLC’s holdings in Amazon.com were worth $3,081,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC lifted its stake in Amazon.com by 94.8% in the 2nd quarter. Bourgeon Capital Management LLC now owns 483 shares of the e-commerce giant’s stock worth $468,000 after purchasing an additional 235 shares in the last quarter. UMB Bank N A MO lifted its stake in Amazon.com by 30.7% in the 2nd quarter. UMB Bank N A MO now owns 20,244 shares of the e-commerce giant’s stock worth $19,596,000 after purchasing an additional 4,756 shares in the last quarter. Abbrea Capital LLC lifted its stake in Amazon.com by 8.8% in the 2nd quarter. Abbrea Capital LLC now owns 2,080 shares of the e-commerce giant’s stock worth $2,013,000 after purchasing an additional 168 shares in the last quarter. 440 Investment Group LLC purchased a new stake in Amazon.com in the 2nd quarter worth $790,000. Finally, CCM Investment Advisers LLC lifted its stake in Amazon.com by 50.3% in the 2nd quarter. CCM Investment Advisers LLC now owns 12,750 shares of the e-commerce giant’s stock worth $12,342,000 after purchasing an additional 4,266 shares in the last quarter. Institutional investors own 60.77% of the company’s stock.
Amazon.com, Inc. (AMZN) opened at 1105.28 on Wednesday. Amazon.com, Inc. has a 1-year low of $710.10 and a 1-year high of $1,122.79. The firm has a market capitalization of $530.95 billion, a PE ratio of 281.10 and a beta of 1.47. The stock’s 50 day moving average is $987.81 and its 200-day moving average is $977.91.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.57). Amazon.com had a net margin of 1.20% and a return on equity of 8.67%. The company had revenue of $43.74 billion for the quarter, compared to the consensus estimate of $42.26 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Amazon.com’s revenue for the quarter was up 33.7% compared to the same quarter last year. Equities research analysts forecast that Amazon.com, Inc. will post $4.24 EPS for the current year.
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Several brokerages have commented on AMZN. TheStreet cut shares of Amazon.com from a “b-” rating to a “c+” rating in a research note on Monday, July 10th. Tigress Financial reiterated a “buy” rating on shares of Amazon.com in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $1,275.00 price target on shares of Amazon.com in a research note on Friday, July 28th. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $1,190.00 price target on shares of Amazon.com in a research note on Monday, October 2nd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $1,250.00 price target on shares of Amazon.com in a research note on Friday, October 27th. Five research analysts have rated the stock with a hold rating and fifty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $1,138.06.
In related news, CEO Jeffrey A. Wilke sold 2,800 shares of Amazon.com stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $955.20, for a total transaction of $2,674,560.00. Following the sale, the chief executive officer now directly owns 10,000 shares in the company, valued at $9,552,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Shelley Reynolds sold 544 shares of Amazon.com stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $986.52, for a total transaction of $536,666.88. Following the sale, the vice president now owns 6,533 shares in the company, valued at $6,444,935.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,083 shares of company stock worth $8,874,850. Company insiders own 17.70% of the company’s stock.
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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