Cornerstone Planning LLC Takes $6.87 Million Position in Amazon.com, Inc. $AMZN

Key Points

• Cornerstone Planning LLC opened a new position in Amazon, buying 29,872 shares worth about $6.87 million in the fourth quarter. Amazon now represents roughly 1.5% of the firm’s portfolio.
• Amazon continues to attract strong institutional interest, with 72.20% of shares held by institutional investors. At the same time, insiders have been selling shares, including CEO transactions that contributed to $51.6 million in insider sales over the last 90 days.
• The company recently beat expectations in its latest quarter, reporting $2.78 EPS versus $1.63 expected and revenue of $181.52 billion. Analysts remain upbeat overall, with a consensus rating of Moderate Buy and an average price target of $312.78.

Cornerstone Planning LLC purchased a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,872 shares of the e-commerce giant's stock, valued at approximately $6,871,000. Amazon.com makes up about 1.5% of Cornerstone Planning LLC's portfolio, making the stock its 20th largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MilWealth Group LLC lifted its holdings in shares of Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. bought a new stake in Amazon.com in the 4th quarter worth about $45,000. Elkhorn Partners Limited Partnership raised its position in Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after buying an additional 180 shares during the last quarter. Fairway Wealth LLC lifted its stake in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. lifted its stake in Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after acquiring an additional 107 shares during the period. 72.20% of the stock is owned by institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $263.40, for a total value of $4,074,007.80. Following the completion of the transaction, the chief executive officer directly owned 14,159 shares in the company, valued at $3,729,480.60. This represents a 52.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 1,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $266.19, for a total transaction of $266,190.00. Following the completion of the sale, the chief executive officer directly owned 485,527 shares of the company's stock, valued at approximately $129,242,432.13. This trade represents a 0.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 195,774 shares of company stock worth $51,614,434 in the last 90 days. Insiders own 8.90% of the company's stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $234.11 on Wednesday. The stock has a 50-day simple moving average of $256.40 and a two-hundred day simple moving average of $234.12. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. 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 $2.52 trillion, a PE ratio of 28.00, a P/E/G ratio of 1.74 and a beta of 1.45.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business's revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.59 earnings per share. Analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMZN shares. Stifel Nicolaus set a $319.00 price target on shares of Amazon.com and gave the stock a "buy" rating in a research note on Thursday, April 30th. Bank of America increased their price objective on shares of Amazon.com from $298.00 to $310.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Roth Mkm raised their target price on shares of Amazon.com from $285.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Wells Fargo & Company set a $312.00 target price on shares of Amazon.com and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings raised Amazon.com from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, May 6th. Fifty-seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $312.78.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Prime Day has kicked off earlier than usual and is expected to generate record online spending, with estimates above $26 billion across retailers; that could lift Amazon’s retail revenue and merchant activity. Amazon Prime Day expected to drive record $26B in online spending
• Positive Sentiment: Amazon is leaning hard into AI commerce during Prime Day, including Alexa for Shopping and new agentic ads that can place purchases automatically, which could improve engagement and show off Amazon’s AI monetization strategy. Amazon ads can make purchases for you
• Positive Sentiment: Multiple analyst-style commentaries remain bullish, citing AWS reacceleration, advertising growth, Prime subscriptions, and the possibility that Amazon’s AI chips could become an additional business line. Amazon: You Aren't Bullish Enough
• Positive Sentiment: A new AWS partnership with ArcelorMittal and another AWS deal with PennyMac highlight continued enterprise adoption of Amazon’s cloud and AI tools. Amazon teams with ArcelorMittal to bring AI into steel plants
• Neutral Sentiment: Prime Day is also being viewed as a consumer spending litmus test, with more focus on basics and household goods than discretionary splurges, so results will be important for sentiment but not clearly a direct positive or negative. Amazon Prime Day to gauge US consumer strain
• Negative Sentiment: AMZN has been caught in a broader selloff in big tech as investors worry about heavy AI capital spending and uncertain near-term returns, which has weighed on the stock despite strong fundamentals. Alphabet sinks, Amazon slides amid AI capex anxiety
• Negative Sentiment: Amazon also faces fresh labor and regulatory overhangs, including an order to bargain with Teamsters at a California fulfillment center and renewed FTC-related concern. Amazon told to negotiate with Teamsters

About Amazon.com

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.

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.