Corundum Group Inc. Sells 3,141 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Corundum Group Inc. decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 25.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,253 shares of the e-commerce giant’s stock after selling 3,141 shares during the period. Amazon.com makes up about 0.8% of Corundum Group Inc.’s holdings, making the stock its 26th largest holding. Corundum Group Inc.’s holdings in Amazon.com were worth $1,760,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. FMR LLC lifted its holdings in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after buying an additional 1,725,664 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after buying an additional 5,015,380 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amazon.com by 2.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock valued at $40,107,544,000 after buying an additional 4,087,933 shares during the period. Finally, Norges Bank purchased a new stake in shares of Amazon.com in the 4th quarter worth $27,266,582,000. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMZN. Westpark Capital reiterated a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Wells Fargo & Company increased their price target on shares of Amazon.com from $201.00 to $238.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Telsey Advisory Group reissued an “outperform” rating and issued a $235.00 price objective on shares of Amazon.com in a research note on Thursday, July 10th. Finally, Scotiabank decreased their price objective on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $250.35.

Insider Buying and Selling at Amazon.com

In related news, CEO Matthew S. Garman sold 20,923 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,211,799.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,335,232 shares of company stock worth $3,210,622,570. Corporate insiders own 9.70% of the company’s stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $223.88 on Friday. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 36.46, a PEG ratio of 1.67 and a beta of 1.33. The company has a 50-day moving average of $212.84 and a 200-day moving average of $208.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter last year, the firm earned $0.98 EPS. Amazon.com’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com Company 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.