Corundum Group Inc. Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Corundum Group Inc. raised its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 32.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,336 shares of the e-commerce giant’s stock after purchasing an additional 3,231 shares during the period. Amazon.com accounts for approximately 1.0% of Corundum Group Inc.’s holdings, making the stock its 23rd biggest position. Corundum Group Inc.’s holdings in Amazon.com were worth $2,577,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Norges Bank bought a new position in shares of Amazon.com during the 4th quarter valued at about $17,700,551,000. Capital Research Global Investors lifted its holdings in shares of Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after acquiring an additional 6,810,145 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after acquiring an additional 295,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Amazon.com by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 51,920,953 shares of the e-commerce giant’s stock valued at $7,888,870,000 after acquiring an additional 1,525,922 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on AMZN shares. Jefferies Financial Group lowered their price target on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Truist Financial increased their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Piper Sandler lowered their price target on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. TD Securities increased their price target on shares of Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Finally, Bank of America decreased their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $221.36.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Douglas J. Herrington sold 3,500 shares of the business’s 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 transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,107,817 shares of company stock worth $1,221,241,837. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Shares of AMZN opened at $178.50 on Friday. Amazon.com, Inc. has a twelve month low of $118.35 and a twelve month high of $201.20. The company has a 50 day moving average of $182.68 and a two-hundred day moving average of $180.99. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.86 trillion, a price-to-earnings ratio of 50.00, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, analysts predict that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal year.

Amazon.com 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.