Cornerstone Enterprises LLC Has $8.71 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Enterprises LLC decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,783 shares of the e-commerce giant’s stock after selling 256 shares during the quarter. Amazon.com comprises 5.3% of Cornerstone Enterprises LLC’s holdings, making the stock its 6th largest holding. Cornerstone Enterprises LLC’s holdings in Amazon.com were worth $8,711,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Amazon.com during the 4th quarter valued at $27,266,582,000. GAMMA Investing LLC lifted its position in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after buying an additional 30,104,520 shares during the last quarter. Capital World Investors lifted its position in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after buying an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Amazon.com by 2.2% during 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 buying an additional 17,635,391 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Amazon.com by 17,054.5% during the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after buying an additional 12,018,120 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMZN. Stifel Nicolaus dropped their price target on Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Oppenheimer increased their price objective on Amazon.com from $215.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, June 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a report on Monday, April 14th. DA Davidson dropped their price objective on Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Mizuho dropped their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $250.35.

Amazon.com Price Performance

AMZN opened at $226.13 on Friday. The stock’s 50 day simple moving average is $213.50 and its 200 day simple moving average is $208.59. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 36.83, a PEG ratio of 1.69 and a beta of 1.33.

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 return on equity of 24.14% and a net margin of 10.14%. The business had revenue of $155.67 billion during the quarter, compared to analysts’ expectations of $154.96 billion. During the same quarter last year, the business posted $0.98 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the sale, the chief executive officer owned 514,550 shares in the company, valued at approximately $113,231,873. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey P. Bezos sold 733,195 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $227.02, for a total value of $166,449,928.90. Following the completion of the sale, the insider owned 894,546,706 shares of the company’s stock, valued at approximately $203,079,993,196.12. This trade represents a 0.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,335,232 shares of company stock valued at $3,210,622,570. Company insiders own 9.70% of the company’s stock.

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.