Corundum Trust Company INC Makes New $267,000 Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Corundum Trust Company INC purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,049 shares of the e-commerce giant’s stock, valued at approximately $267,000.

Other institutional investors have also recently bought and sold shares of the company. Laurel Wealth Planning LLC lifted its holdings in Amazon.com by 1,900.0% in the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 304 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in shares of Amazon.com in the 4th quarter worth $37,000. Swaine & Leidel Wealth Services LLC bought a new stake in Amazon.com in the first quarter valued at about $38,000. Atlantic Private Wealth LLC acquired a new position in Amazon.com in the first quarter valued at about $43,000. Finally, Goodwin Investment Advisory grew its position in shares of Amazon.com by 1,225.8% during the 2nd quarter. Goodwin Investment Advisory now owns 411 shares of the e-commerce giant’s stock worth $44,000 after buying an additional 380 shares during the period. Institutional investors own 57.96% of the company’s stock.

Insider Activity

In other news, CEO Andrew R. Jassy sold 21,933 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $133.92, for a total value of $2,937,267.36. Following the transaction, the chief executive officer now directly owns 2,030,868 shares of the company’s stock, valued at $271,973,842.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $138.48, for a total transaction of $69,240.00. Following the transaction, the chief executive officer now directly owns 106,520 shares of the company’s stock, valued at $14,750,889.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 21,933 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $133.92, for a total transaction of $2,937,267.36. Following the transaction, the chief executive officer now directly owns 2,030,868 shares in the company, valued at $271,973,842.56. The disclosure for this sale can be found here. Insiders have sold 122,845 shares of company stock valued at $17,035,294 over the last ninety days. 12.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMZN. Telsey Advisory Group boosted their price objective on shares of Amazon.com from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, October 27th. TheStreet raised shares of Amazon.com from a “c+” rating to a “b-” rating in a research note on Friday, October 27th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Amazon.com in a research note on Tuesday, October 10th. DA Davidson upped their target price on shares of Amazon.com from $150.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, October 27th. Finally, Credit Suisse Group upped their target price on shares of Amazon.com from $176.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Two analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $168.93.

Amazon.com Stock Performance

Shares of AMZN stock opened at $145.18 on Friday. The stock has a market cap of $1.50 trillion, a P/E ratio of 75.22, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.98 and a quick ratio of 0.74. The company has a fifty day moving average price of $133.72 and a two-hundred day moving average price of $129.41. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $147.29.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 26th. The e-commerce giant reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.27. The company had revenue of $143.08 billion for the quarter, compared to analyst estimates of $141.53 billion. Amazon.com had a net margin of 3.62% and a return on equity of 12.75%. As a group, equities analysts predict that Amazon.com, Inc. will post 2.6 EPS for the current year.

About Amazon.com

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