Cornerstone Advisors Inc. lowered its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 14.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 562 shares of the e-commerce giant’s stock after selling 97 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Amazon.com were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. OLD Second National Bank of Aurora raised its holdings in shares of Amazon.com by 15.0% during the 1st quarter. OLD Second National Bank of Aurora now owns 115 shares of the e-commerce giant’s stock valued at $102,000 after purchasing an additional 15 shares in the last quarter. WealthTrust Arizona LLC grew its stake in Amazon.com by 2.7% in the 2nd quarter. WealthTrust Arizona LLC now owns 114 shares of the e-commerce giant’s stock valued at $110,000 after buying an additional 3 shares during the last quarter. LeJeune Puetz Investment Counsel LLC acquired a new position in Amazon.com in the 2nd quarter valued at $116,000. Lipe & Dalton acquired a new position in Amazon.com in the 1st quarter valued at $124,000. Finally, Farmers & Merchants Investments Inc. grew its stake in Amazon.com by 560.0% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 132 shares of the e-commerce giant’s stock valued at $128,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds own 60.76% of the company’s stock.
In related news, CEO Jeffrey A. Wilke sold 2,800 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $955.20, for a total value of $2,674,560.00. Following the sale, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $9,552,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 544 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $986.52, for a total value of $536,666.88. Following the completion of the sale, the vice president now owns 6,533 shares in the company, valued at $6,444,935.16. The disclosure for this sale can be found here. Insiders sold a total of 9,793 shares of company stock worth $9,574,377 over the last 90 days. 17.70% of the stock is currently owned by company insiders.
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A number of research firms recently issued reports on AMZN. UBS AG reiterated a “buy” rating and issued a $1,100.00 target price on shares of Amazon.com in a research note on Wednesday, June 21st. Cowen and Company reiterated an “outperform” rating and issued a $1,125.00 target price on shares of Amazon.com in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $1,275.00 target price on shares of Amazon.com in a research note on Wednesday, August 9th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,200.00 target price on shares of Amazon.com in a research note on Thursday, August 10th. Finally, Tigress Financial reiterated a “buy” rating on shares of Amazon.com in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-six have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,101.25.
Amazon.com, Inc. (NASDAQ:AMZN) traded down 0.99% on Friday, hitting $955.10. 2,641,787 shares of the stock traded hands. The stock has a 50-day moving average price of $973.80 and a 200 day moving average price of $952.61. Amazon.com, Inc. has a 1-year low of $710.10 and a 1-year high of $1,083.31. The company has a market cap of $458.81 billion, a price-to-earnings ratio of 242.90 and a beta of 1.47.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($1.00). The firm had revenue of $37.96 billion for the quarter, compared to analysts’ expectations of $37.18 billion. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. Amazon.com’s revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, analysts anticipate that Amazon.com, Inc. will post $3.68 EPS for the current fiscal year.
Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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