Conning Inc. Has $10.25 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Conning Inc. lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 56,815 shares of the e-commerce giant’s stock after selling 851 shares during the quarter. Conning Inc.’s holdings in Amazon.com were worth $10,248,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Collective Family Office LLC raised its holdings in shares of Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after acquiring an additional 819 shares during the last quarter. Members Trust Co raised its holdings in shares of Amazon.com by 8.9% in the 4th quarter. Members Trust Co now owns 4,157 shares of the e-commerce giant’s stock worth $638,000 after acquiring an additional 341 shares during the last quarter. Cherrydale Wealth Management LLC raised its holdings in shares of Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock worth $799,000 after acquiring an additional 675 shares during the last quarter. Tompkins Financial Corp raised its holdings in shares of Amazon.com by 3.3% in the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock worth $10,875,000 after acquiring an additional 2,273 shares during the last quarter. Finally, Nicholas Company Inc. raised its holdings in shares of Amazon.com by 3.9% in the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after acquiring an additional 26,465 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the sale, the chief executive officer now owns 519,753 shares in the company, valued at approximately $101,866,390.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $181.38, for a total transaction of $90,690.00. Following the completion of the sale, the chief executive officer now directly owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total transaction of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares of the company’s stock, valued at $101,866,390.47. The disclosure for this sale can be found here. Insiders have sold 69,548 shares of company stock worth $12,774,204 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Amazon.com Price Performance

NASDAQ AMZN traded up $2.38 on Friday, hitting $199.97. The stock had a trading volume of 16,365,729 shares, compared to its average volume of 42,638,844. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $200.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 56.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.15. The firm has a 50-day moving average of $185.58 and a 200-day moving average of $174.31.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Equities analysts expect that Amazon.com, Inc. will post 4.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. DA Davidson reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Amazon.com in a research report on Thursday, April 18th. Tigress Financial upped their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Argus upped their price objective on shares of Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $215.86.

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.