Cornerstone Advisors LLC Has $108.23 Million Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Advisors LLC lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZNGet Rating) by 3.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 33,200 shares of the e-commerce giant’s stock after acquiring an additional 1,000 shares during the quarter. Amazon.com makes up 6.4% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 2nd largest position. Cornerstone Advisors LLC’s holdings in Amazon.com were worth $108,230,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMZN. Fifth Third Bancorp raised its holdings in shares of Amazon.com by 1.5% in the 1st quarter. Fifth Third Bancorp now owns 177,679 shares of the e-commerce giant’s stock valued at $579,225,000 after acquiring an additional 2,686 shares in the last quarter. Graypoint LLC raised its holdings in shares of Amazon.com by 57.9% in the 1st quarter. Graypoint LLC now owns 1,704 shares of the e-commerce giant’s stock valued at $5,555,000 after acquiring an additional 625 shares in the last quarter. Castle Rock Wealth Management LLC raised its holdings in shares of Amazon.com by 10.6% in the 1st quarter. Castle Rock Wealth Management LLC now owns 1,715 shares of the e-commerce giant’s stock valued at $5,422,000 after acquiring an additional 164 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Amazon.com by 10.0% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 12,917 shares of the e-commerce giant’s stock valued at $42,109,000 after acquiring an additional 1,172 shares in the last quarter. Finally, Egerton Capital UK LLP raised its holdings in shares of Amazon.com by 32.2% in the 1st quarter. Egerton Capital UK LLP now owns 369,920 shares of the e-commerce giant’s stock valued at $1,205,921,000 after acquiring an additional 90,008 shares in the last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 23,620 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $142.29, for a total transaction of $3,360,889.80. Following the completion of the sale, the chief executive officer now owns 1,892,000 shares in the company, valued at approximately $269,212,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Andrew R. Jassy sold 23,620 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $142.29, for a total transaction of $3,360,889.80. Following the completion of the sale, the chief executive officer now owns 1,892,000 shares in the company, valued at approximately $269,212,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,480 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $134.23, for a total transaction of $467,120.40. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $16,078,069.40. The disclosure for this sale can be found here. Insiders sold 70,108 shares of company stock worth $9,736,335 in the last quarter. 12.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMZN shares. Robert W. Baird reiterated an “outperform” rating and set a $150.00 price objective on shares of Amazon.com in a research report on Wednesday. Credit Suisse Group reduced their price objective on Amazon.com from $185.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 26th. MKM Partners reduced their price target on Amazon.com from $180.00 to $165.00 in a research report on Monday, July 25th. Cowen lifted their price objective on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Amazon.com from $174.00 to $155.00 in a research report on Thursday, July 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and thirty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.61.

Amazon.com Price Performance

NASDAQ:AMZN opened at $129.48 on Thursday. The company has a 50-day moving average of $127.12 and a 200-day moving average of $131.92. The company has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 116.07, a PEG ratio of 5.73 and a beta of 1.33. Amazon.com, Inc. has a 52 week low of $101.26 and a 52 week high of $188.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.68 and a current ratio of 0.95.

Amazon.com (NASDAQ:AMZNGet Rating) last released its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). The business had revenue of $121.23 billion for the quarter, compared to the consensus estimate of $119.16 billion. Amazon.com had a return on equity of 15.79% and a net margin of 2.39%. Amazon.com’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.76 earnings per share. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 0.98 earnings per share for the current fiscal year.

Amazon.com Company Profile

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

See Also

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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