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

Corundum Group Inc. lifted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 21.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,394 shares of the e-commerce giant’s stock after purchasing an additional 2,230 shares during the period. Amazon.com comprises about 1.0% of Corundum Group Inc.’s portfolio, making the stock its 20th biggest holding. Corundum Group Inc.’s holdings in Amazon.com were worth $2,719,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Purus Wealth Management LLC boosted its position in Amazon.com by 0.5% during the fourth quarter. Purus Wealth Management LLC now owns 48,879 shares of the e-commerce giant’s stock worth $10,724,000 after purchasing an additional 250 shares in the last quarter. Penn Davis Mcfarland Inc. raised its stake in shares of Amazon.com by 28.8% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 12,245 shares of the e-commerce giant’s stock worth $2,686,000 after buying an additional 2,735 shares during the period. Lee Johnson Capital Management LLC lifted its position in shares of Amazon.com by 0.7% during the 4th quarter. Lee Johnson Capital Management LLC now owns 23,820 shares of the e-commerce giant’s stock valued at $5,226,000 after buying an additional 174 shares in the last quarter. McCarthy & Cox acquired a new stake in Amazon.com in the 4th quarter valued at $215,000. Finally, Maltin Wealth Management Inc. increased its holdings in Amazon.com by 36.1% in the 4th quarter. Maltin Wealth Management Inc. now owns 3,395 shares of the e-commerce giant’s stock worth $745,000 after acquiring an additional 900 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Up 2.0 %

AMZN opened at $242.06 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.55 trillion, a P/E ratio of 51.83, a P/E/G ratio of 1.35 and a beta of 1.15. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The business has a fifty day simple moving average of $224.55 and a 200-day simple moving average of $199.36.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AMZN shares. Wedbush reaffirmed an “outperform” rating and set a $280.00 price objective (up from $260.00) on shares of Amazon.com in a report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Susquehanna lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating and set a $250.00 target price on shares of Amazon.com in a report on Tuesday, January 21st. Finally, Jefferies Financial Group lifted their price target on Amazon.com from $235.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $252.56.

Insider Activity at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,027,340 shares of company stock worth $1,252,456,773 in the last three months. 10.80% of the stock is owned by company insiders.

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.