Cornerstone Planning Group LLC Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Key Points

• Cornerstone Planning Group LLC increased its stock holdings in Amazon.com by 135.5% during the first quarter, owning a total of 13,142 shares valued at approximately $2.37 million.
• Insider Jeffrey P. Bezos sold over 2.6 million shares of Amazon stock for approximately $609 million, marking a 0.30% decrease in his overall position.
• Amazon's recent quarterly earnings report showed earnings per share of $1.68, surpassing analysts' expectations of $1.31, with a revenue of $167.70 billion, a 13.3% year-over-year increase.

Cornerstone Planning Group LLC raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 135.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,142 shares of the e-commerce giant's stock after acquiring an additional 7,561 shares during the quarter. Amazon.com comprises approximately 0.6% of Cornerstone Planning Group LLC's portfolio, making the stock its 21st biggest holding. Cornerstone Planning Group LLC's holdings in Amazon.com were worth $2,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com in the fourth quarter valued at about $27,000. LSV Asset Management purchased a new position in shares of Amazon.com in the fourth quarter valued at about $35,000. Perritt Capital Management Inc increased its position in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after acquiring an additional 80 shares during the period. Cooksen Wealth LLC purchased a new position in shares of Amazon.com in the first quarter valued at about $36,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Amazon.com in the first quarter valued at about $40,000. Institutional investors own 72.20% of the company's stock.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. The trade was a 0.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the transaction, the chief executive officer owned 512,050 shares in the company, valued at approximately $111,114,850. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,102,037 shares of company stock valued at $5,674,937,048 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMZN. Jefferies Financial Group boosted their price target on shares of Amazon.com from $255.00 to $265.00 in a research report on Wednesday, July 16th. DA Davidson upped their target price on shares of Amazon.com from $230.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Benchmark reaffirmed a "buy" rating and set a $260.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amazon.com in a research note on Friday, August 1st. Finally, BNP Paribas Exane raised shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price for the company in a research note on Friday, June 27th. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $262.45.

Amazon.com Trading Up 3.9%

Shares of Amazon.com stock traded up $8.44 during trading on Wednesday, hitting $222.19. The stock had a trading volume of 54,656,017 shares, compared to its average volume of 45,179,059. The firm's fifty day simple moving average is $218.57 and its 200-day simple moving average is $208.96. The stock has a market cap of $2.37 trillion, a PE ratio of 33.87, a PEG ratio of 1.45 and a beta of 1.31. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. Amazon.com, Inc. has a 12 month low of $161.38 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.37. The firm had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The business's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. As a group, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS 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.