Cornerstone Wealth Management LLC Acquires 1,760 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Wealth Management LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,996 shares of the e-commerce giant’s stock after purchasing an additional 1,760 shares during the period. Amazon.com makes up 1.1% of Cornerstone Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Cornerstone Wealth Management LLC’s holdings in Amazon.com were worth $15,278,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Zhang Financial LLC raised its holdings in Amazon.com by 12.9% in the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after acquiring an additional 5,828 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Amazon.com by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares during the last quarter. GAMMA Investing LLC grew its holdings in Amazon.com by 19.2% in the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after buying an additional 19,231 shares during the last quarter. Stonekeep Investments LLC bought a new stake in shares of Amazon.com in the second quarter valued at approximately $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Amazon.com by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock worth $203,677,000 after acquiring an additional 654,908 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on AMZN shares. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target for the company. in a report on Friday, August 2nd. Roth Mkm increased their target price on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC raised their price objective on Amazon.com from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Amazon.com from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average price target of $235.45.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,053,349 shares of company stock valued at $1,256,503,289 over the last ninety days. Insiders own 10.80% of the company’s stock.

Amazon.com Trading Down 4.2 %

AMZN stock opened at $202.61 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Amazon.com, Inc. has a twelve month low of $139.52 and a twelve month high of $215.90. The company has a market cap of $2.13 trillion, a P/E ratio of 43.39, a PEG ratio of 1.44 and a beta of 1.14. The business has a fifty day moving average of $190.54 and a 200-day moving average of $185.54.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the business posted $0.85 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Amazon.com, Inc. will post 5.27 EPS for the current 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.