Cornerstone Advisory LLC Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Advisory LLC cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,153 shares of the e-commerce giant's stock after selling 4,052 shares during the period. Amazon.com comprises 1.9% of Cornerstone Advisory LLC's portfolio, making the stock its 15th biggest position. Cornerstone Advisory LLC's holdings in Amazon.com were worth $16,729,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMZN. Vanguard Group Inc. raised its holdings in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. FMR LLC grew its position in shares of Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC raised its stake 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 worth $44,837,256,000 after acquiring an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Amazon.com by 2.3% during the fourth 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 acquiring an additional 4,087,933 shares during the last quarter. Finally, Norges Bank acquired a new stake in Amazon.com in the fourth quarter valued at approximately $27,266,582,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Keith Brian Alexander sold 1,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total value of $210,680.00. Following the completion of the sale, the director now directly owns 5,465 shares of the company's stock, valued at approximately $1,151,366.20. The trade was a 15.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew S. Garman sold 20,923 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total value of $4,211,799.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,037 shares of company stock worth $20,531,075. 9.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

AMZN has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wedbush reiterated an "outperform" rating and set a $235.00 price objective (up from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Barclays cut their target price on Amazon.com from $265.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Evercore ISI lowered their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, Raymond James reissued an "outperform" rating and issued a $195.00 price objective (down from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $244.89.

Amazon.com Stock Up 0.8%

AMZN traded up $1.70 on Thursday, hitting $208.93. 39,558,452 shares of the company were exchanged, compared to its average volume of 41,987,644. The firm has a 50-day moving average price of $191.06 and a two-hundred day moving average price of $208.60. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a twelve month low of $151.61 and a twelve month high of $242.52. The company has a market cap of $2.22 trillion, a price-to-earnings ratio of 37.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.