Cornerstone Wealth Management LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,589 shares of the e-commerce giant’s stock after selling 1,988 shares during the quarter. Amazon.com comprises 1.2% of Cornerstone Wealth Management LLC’s portfolio, making the stock its 16th biggest position. Cornerstone Wealth Management LLC’s holdings in Amazon.com were worth $14,356,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cooksen Wealth LLC acquired a new stake in Amazon.com during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Amazon.com by 45.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares during the period. Strid Group LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $43,000. Harbor Investment Advisory LLC raised its holdings in shares of Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 1,988 shares during the period. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $46,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Amazon.com
In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 266,396 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $200.01, for a total value of $53,281,863.96. Following the completion of the sale, the insider now directly owns 928,433,873 shares in the company, valued at approximately $185,696,058,938.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,113,490 shares of company stock valued at $1,222,340,738. Corporate insiders own 10.80% of the company’s stock.
Amazon.com Trading Down 0.3 %
Shares of AMZN stock opened at $194.49 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. Amazon.com, Inc. has a 1 year low of $118.35 and a 1 year high of $201.20. The stock has a fifty day moving average of $187.63 and a two-hundred day moving average of $176.17. The firm has a market capitalization of $2.02 trillion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15.
Amazon.com (NASDAQ:AMZN – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that Amazon.com, Inc. will post 4.72 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently commented on AMZN. JMP Securities reiterated a “market outperform” rating and set a $225.00 target price on shares of Amazon.com in a report on Wednesday, May 1st. Bank of America raised their target price on Amazon.com from $210.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Wedbush restated an “outperform” rating and set a $225.00 price objective on shares of Amazon.com in a report on Wednesday, May 1st. Oppenheimer lifted their price objective on Amazon.com from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, DA Davidson restated a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $217.38.
Get Our Latest Stock Report on Amazon.com
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.
Further Reading
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