Cvfg LLC Makes New $2 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Cvfg LLC acquired a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 9,109 shares of the e-commerce giant’s stock, valued at approximately $1,998,000. Amazon.com makes up about 1.8% of Cvfg LLC’s holdings, making the stock its 18th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Rench Wealth Management Inc. raised its position in shares of Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after buying an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in shares of Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after acquiring an additional 16,392 shares in the last quarter. Blankinship & Foster LLC lifted its holdings in shares of Amazon.com by 216.4% in the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after acquiring an additional 4,740 shares during the last quarter. Umpqua Bank boosted its stake in shares of Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after purchasing an additional 137 shares in the last quarter. Finally, Floyd Financial Group LLC bought a new position in shares of Amazon.com during the 4th quarter valued at $4,494,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMZN. Oppenheimer raised their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird increased their price objective on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Loop Capital lifted their target price on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Raymond James increased their price target on shares of Amazon.com from $230.00 to $260.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, Tigress Financial boosted their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $249.46.

Amazon.com Stock Performance

Shares of AMZN opened at $237.07 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $241.77. The firm has a market capitalization of $2.49 trillion, a P/E ratio of 50.76, a PEG ratio of 1.31 and a beta of 1.14. The business has a fifty day moving average of $221.62 and a 200 day moving average of $198.03.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the firm posted $0.85 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.39 EPS for the current year.

About Amazon.com

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.