Cornerstone Select Advisors LLC Makes New Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Select Advisors LLC bought a new position in shares of Amazon.com, Inc. (NASDAQ:AMZN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 9,786 shares of the e-commerce giant's stock, valued at approximately $2,147,000. Amazon.com accounts for approximately 2.1% of Cornerstone Select Advisors LLC's holdings, making the stock its 9th largest position.

Other hedge funds have also recently bought and sold shares of the company. Momentous Wealth Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $749,000. Segall Bryant & Hamill LLC grew its stake in shares of Amazon.com by 14.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock valued at $69,572,000 after buying an additional 39,696 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Amazon.com by 0.5% in the fourth quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock valued at $53,213,000 after buying an additional 1,198 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Amazon.com by 173.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock valued at $759,434,000 after buying an additional 2,196,353 shares in the last quarter. Finally, Keyvantage Wealth LLC bought a new position in shares of Amazon.com in the fourth quarter valued at $2,735,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Down 1.0%

AMZN stock opened at $200.99 on Friday. The company has a market cap of $2.13 trillion, a PE ratio of 36.35, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The business has a 50-day simple moving average of $190.05 and a 200 day simple moving average of $208.81. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Piper Sandler reissued an "overweight" rating and issued a $212.00 target price (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Loop Capital raised their target price on shares of Amazon.com from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating and issued a $220.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Royal Bank of Canada decreased their target price on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $244.09.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 13,570 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $202.41, for a total transaction of $2,746,703.70. Following the completion of the transaction, the senior vice president now owns 47,030 shares of the company's stock, valued at approximately $9,519,342.30. The trade was a 22.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 118,749 shares of company stock valued at $24,197,235 over the last quarter. 9.70% of the stock is owned by corporate insiders.

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.

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