Cornerstone Capital Inc. Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Capital Inc. grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 242,311 shares of the e-commerce giant’s stock after acquiring an additional 5,060 shares during the quarter. Amazon.com accounts for 4.2% of Cornerstone Capital Inc.’s portfolio, making the stock its 3rd biggest holding. Cornerstone Capital Inc.’s holdings in Amazon.com were worth $45,150,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. PayPay Securities Corp lifted its stake in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the third quarter valued at approximately $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com in the third quarter worth approximately $45,000. Values First Advisors Inc. bought a new stake in shares of Amazon.com during the 3rd quarter worth approximately $56,000. Finally, Christopher J. Hasenberg Inc boosted its holdings in Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after acquiring an additional 260 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $227.46 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a 12 month low of $144.05 and a 12 month high of $231.20. The company has a 50 day simple moving average of $201.65 and a two-hundred day simple moving average of $189.67. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 48.71, a PEG ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $0.85 EPS. As a group, analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMZN. Loop Capital boosted their target price on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler increased their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JMP Securities increased their price objective on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Finally, Susquehanna boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $238.87.

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872 in the last 90 days. 10.80% of the stock is currently owned by company insiders.

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.