Connors Investor Services Inc. Buys 1,118 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Connors Investor Services Inc. boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 146,448 shares of the e-commerce giant’s stock after buying an additional 1,118 shares during the period. Amazon.com accounts for approximately 2.9% of Connors Investor Services Inc.’s holdings, making the stock its 5th largest position. Connors Investor Services Inc.’s holdings in Amazon.com were worth $28,301,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Perennial Investment Advisors LLC boosted its stake in Amazon.com by 2.6% in the 2nd quarter. Perennial Investment Advisors LLC now owns 63,762 shares of the e-commerce giant’s stock valued at $12,322,000 after buying an additional 1,606 shares in the last quarter. Pitti Group Wealth Management LLC boosted its stake in Amazon.com by 2.3% in the 2nd quarter. Pitti Group Wealth Management LLC now owns 11,269 shares of the e-commerce giant’s stock valued at $2,178,000 after buying an additional 255 shares in the last quarter. Yarger Wealth Strategies LLC boosted its stake in Amazon.com by 0.3% in the 2nd quarter. Yarger Wealth Strategies LLC now owns 27,280 shares of the e-commerce giant’s stock valued at $5,272,000 after buying an additional 91 shares in the last quarter. Clearstead Trust LLC boosted its stake in Amazon.com by 0.4% in the 2nd quarter. Clearstead Trust LLC now owns 58,872 shares of the e-commerce giant’s stock valued at $11,377,000 after buying an additional 210 shares in the last quarter. Finally, Tower Wealth Partners Inc. boosted its stake in Amazon.com by 20.9% in the 2nd quarter. Tower Wealth Partners Inc. now owns 4,474 shares of the e-commerce giant’s stock valued at $865,000 after buying an additional 773 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several research analyst reports. Barclays lifted their price objective on Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. DA Davidson reiterated a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, October 10th. Benchmark reiterated a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a research report on Friday, August 2nd. Roth Mkm lifted their price objective on Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company downgraded Amazon.com from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $225.00 to $183.00 in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.78.

Amazon.com Stock Performance

Shares of AMZN opened at $187.53 on Friday. The firm has a market cap of $1.95 trillion, a P/E ratio of 52.53, a PEG ratio of 1.38 and a beta of 1.14. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The firm’s 50 day moving average price is $181.54 and its two-hundred day moving average price is $183.35.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, analysts forecast that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,355 shares of company stock worth $9,877,423 over the last three months. Corporate insiders own 10.80% of the company’s stock.

Amazon.com 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.