Corundum Group Inc. Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Corundum Group Inc. cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 23.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,164 shares of the e-commerce giant’s stock after selling 3,172 shares during the period. Amazon.com accounts for about 0.9% of Corundum Group Inc.’s holdings, making the stock its 24th biggest position. Corundum Group Inc.’s holdings in Amazon.com were worth $1,894,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com during the 3rd quarter worth approximately $37,000. Christopher J. Hasenberg Inc raised its position in shares of Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after purchasing an additional 260 shares in the last quarter. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Amazon.com during the 1st quarter valued at approximately $69,000. Finally, Innealta Capital LLC bought a new stake in shares of Amazon.com in the second quarter worth $77,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 2.1 %

Shares of Amazon.com stock opened at $198.70 on Friday. The company’s fifty day moving average is $192.79 and its two-hundred day moving average is $186.26. Amazon.com, Inc. has a 1 year low of $142.81 and a 1 year high of $215.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company has a market capitalization of $2.09 trillion, a P/E ratio of 42.55, a PEG ratio of 1.37 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the business earned $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Analysts forecast that Amazon.com, Inc. will post 5.27 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on AMZN shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Morgan Stanley increased their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. DA Davidson reiterated a “buy” rating and set a $235.00 price objective on shares of Amazon.com in a research note on Thursday, October 10th. Sanford C. Bernstein upped their target price on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 target price (up from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.77.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. This trade represents a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,011,423 shares of company stock worth $1,249,093,896. 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.