Cornerstone Wealth Group LLC boosted its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,266 shares of the e-commerce giant's stock after purchasing an additional 7,872 shares during the period. Amazon.com comprises 1.3% of Cornerstone Wealth Group LLC's portfolio, making the stock its 16th largest position. Cornerstone Wealth Group LLC's holdings in Amazon.com were worth $21,091,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of AMZN. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock worth $158,348,557,000 after buying an additional 8,913,959 shares during the last quarter. State Street Corp raised its holdings in Amazon.com by 1.8% in the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant's stock valued at $89,708,913,000 after acquiring an additional 6,971,680 shares in the last quarter. Geode Capital Management LLC boosted its stake in Amazon.com by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant's stock valued at $51,753,622,000 after acquiring an additional 2,479,324 shares during the last quarter. Norges Bank acquired a new position in Amazon.com during the 4th quarter worth $32,868,735,000. Finally, Auto Owners Insurance Co grew its holdings in Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after acquiring an additional 98,090,585 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.
Key Headlines Impacting Amazon.com
Here are the key news stories impacting Amazon.com this week:
Wall Street Analyst Weigh In
Several research firms have recently weighed in on AMZN. Benchmark boosted their target price on shares of Amazon.com from $275.00 to $370.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. TD Cowen reaffirmed a "buy" rating and set a $350.00 price target on shares of Amazon.com in a research report on Tuesday, May 12th. TD Securities upgraded Amazon.com to a "buy" rating in a research note on Monday, April 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $330.00 price objective (up from $280.00) on shares of Amazon.com in a report on Thursday, April 30th. Finally, Raymond James Financial restated an "outperform" rating and set a $280.00 price objective on shares of Amazon.com in a research note on Friday, May 1st. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $312.79.
Get Our Latest Research Report on AMZN
Amazon.com Stock Performance
NASDAQ AMZN opened at $242.67 on Monday. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56. The company has a 50-day simple moving average of $254.57 and a 200-day simple moving average of $234.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The firm has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.46.
Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. During the same quarter in the prior year, the business earned $1.59 earnings per share. Amazon.com's quarterly revenue was up 16.6% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current year.
Insider Buying and Selling
In other news, SVP David Zapolsky sold 9,270 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the sale, the senior vice president directly owned 41,190 shares in the company, valued at approximately $11,060,750.70. This represents a 18.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 15,467 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the completion of the sale, the chief executive officer directly owned 14,159 shares in the company, valued at approximately $3,729,480.60. This trade represents a 52.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,643,704 over the last three months. 8.90% of the stock is owned by company insiders.
Amazon.com Profile
(
Free Report)
Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.
Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Amazon.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amazon.com wasn't on the list.
While Amazon.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
