Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Corundum Group Inc.

Corundum Group Inc. cut its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,105 shares of the e-commerce giant’s stock after selling 1,216 shares during the quarter. Amazon.com comprises 0.9% of Corundum Group Inc.’s investment portfolio, making the stock its 25th biggest position. Corundum Group Inc.’s holdings in Amazon.com were worth $1,823,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMZN. Cooksen Wealth LLC acquired a new position in Amazon.com during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Amazon.com by 45.0% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 86 shares during the last quarter. Strid Group LLC acquired a new position in Amazon.com during the fourth quarter worth about $43,000. Harbor Investment Advisory LLC boosted its position in Amazon.com by 0.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 1,988 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Amazon.com during the fourth quarter worth about $46,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Mizuho boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Piper Sandler boosted their target price on shares of Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Evercore ISI boosted their target price on shares of Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JMP Securities reiterated a “market outperform” rating and issued a $225.00 target price on shares of Amazon.com in a report on Wednesday, May 1st. Finally, Tigress Financial boosted their target price on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has a consensus rating of “Buy” and an average target price of $215.86.

Amazon.com Trading Up 2.0 %

Shares of Amazon.com stock opened at $197.20 on Tuesday. The company has a fifty day simple moving average of $183.87 and a 200-day simple moving average of $173.28. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $199.84. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 55.24, a PEG ratio of 1.38 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter in the prior year, the business posted $0.31 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now owns 523,253 shares in the company, valued at approximately $92,767,524.37. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now owns 523,253 shares in the company, valued at approximately $92,767,524.37. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total transaction of $90,690.00. Following the sale, the chief executive officer now owns 130,600 shares of the company’s stock, valued at approximately $23,688,228. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,548 shares of company stock worth $12,180,239. Corporate insiders own 10.80% of the company’s stock.

About Amazon.com

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.