Cornerstone Wealth Advisors Inc. Sells 59 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cornerstone Wealth Advisors Inc. decreased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,475 shares of the e-commerce giant’s stock after selling 59 shares during the quarter. Cornerstone Wealth Advisors Inc.’s holdings in Amazon.com were worth $275,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Meridian Investment Counsel Inc. raised its holdings in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after acquiring an additional 55 shares during the last quarter. O Connor Financial Group LLC increased its holdings in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC increased its holdings in shares of Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after buying an additional 55 shares during the last quarter. Mason & Associates Inc increased its holdings in shares of Amazon.com by 0.4% during the 2nd quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock worth $2,595,000 after buying an additional 57 shares during the last quarter. Finally, West Wealth Group LLC increased its holdings in shares of Amazon.com by 0.4% during the 2nd quarter. West Wealth Group LLC now owns 13,144 shares of the e-commerce giant’s stock worth $2,540,000 after buying an additional 57 shares during the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now directly owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,026,683 shares of company stock valued at $1,252,148,795 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent analyst reports. Scotiabank raised their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a report on Friday, November 1st. Maxim Group raised their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark raised their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Rosenblatt Securities increased their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Susquehanna increased their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $236.20.

Amazon.com Stock Up 1.3 %

Shares of NASDAQ:AMZN opened at $213.44 on Wednesday. The company has a market cap of $2.24 trillion, a price-to-earnings ratio of 45.70, a PEG ratio of 1.41 and a beta of 1.16. The firm’s 50-day simple moving average is $195.51 and its 200-day simple moving average is $187.34. 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 fifty-two week low of $142.81 and a fifty-two week high of $215.90.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 earnings per share. As a group, equities research analysts predict that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Amazon.com Company 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.