Cornerstone Planning LLC Buys New Holdings in Amazon.com, Inc. $AMZN

Cornerstone Planning LLC purchased a new position in Amazon.com, Inc. (NASDAQ:AMZN) during the fourth quarter, HoldingsChannel reports. The fund purchased 29,872 shares of the e-commerce giant’s stock, valued at approximately $6,871,000. Amazon.com accounts for approximately 1.5% of Cornerstone Planning LLC’s portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMZN. AMG Asset Management Group Inc. purchased a new stake in Amazon.com in the 4th quarter worth $947,000. Forty three Eighteen Advisors LLC bought a new position in shares of Amazon.com during the 4th quarter valued at about $419,000. Rockefeller Capital Management L.P. grew its position in shares of Amazon.com by 7.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,601,249 shares of the e-commerce giant’s stock valued at $1,292,881,000 after purchasing an additional 397,911 shares in the last quarter. Osbon Capital Management LLC purchased a new position in shares of Amazon.com during the fourth quarter valued at about $807,000. Finally, Lane Brothers & Co. Inc. bought a new stake in shares of Amazon.com in the fourth quarter worth about $830,000. 72.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amazon.com news, CEO Matthew S. Garman sold 15,467 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $263.40, for a total value of $4,074,007.80. Following the transaction, the chief executive officer owned 14,159 shares of the company’s stock, valued at $3,729,480.60. This represents a 52.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Andrew R. Jassy sold 31,352 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $275.00, for a total value of $8,621,800.00. Following the completion of the sale, the chief executive officer owned 2,175,766 shares in the company, valued at approximately $598,335,650. The trade was a 1.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 195,774 shares of company stock worth $51,614,434 in the last 90 days. 8.90% of the stock is owned by insiders.

Trending Headlines about Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Prime Day has kicked off earlier than usual and is expected to generate record online spending, with estimates above $26 billion across retailers; that could lift Amazon’s retail revenue and merchant activity. Amazon Prime Day expected to drive record $26B in online spending
• Positive Sentiment: Amazon is leaning hard into AI commerce during Prime Day, including Alexa for Shopping and new agentic ads that can place purchases automatically, which could improve engagement and show off Amazon’s AI monetization strategy. Amazon ads can make purchases for you
• Positive Sentiment: Multiple analyst-style commentaries remain bullish, citing AWS reacceleration, advertising growth, Prime subscriptions, and the possibility that Amazon’s AI chips could become an additional business line. Amazon: You Aren’t Bullish Enough
• Positive Sentiment: A new AWS partnership with ArcelorMittal and another AWS deal with PennyMac highlight continued enterprise adoption of Amazon’s cloud and AI tools. Amazon teams with ArcelorMittal to bring AI into steel plants
• Neutral Sentiment: Prime Day is also being viewed as a consumer spending litmus test, with more focus on basics and household goods than discretionary splurges, so results will be important for sentiment but not clearly a direct positive or negative. Amazon Prime Day to gauge US consumer strain
• Negative Sentiment: AMZN has been caught in a broader selloff in big tech as investors worry about heavy AI capital spending and uncertain near-term returns, which has weighed on the stock despite strong fundamentals. Alphabet sinks, Amazon slides amid AI capex anxiety
• Negative Sentiment: Amazon also faces fresh labor and regulatory overhangs, including an order to bargain with Teamsters at a California fulfillment center and renewed FTC-related concern. Amazon told to negotiate with Teamsters

Analysts Set New Price Targets

Several equities analysts have weighed in on AMZN shares. Royal Bank Of Canada restated a “buy” rating on shares of Amazon.com in a report on Tuesday, June 16th. HSBC upped their price objective on Amazon.com from $280.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Citigroup restated a “market outperform” rating on shares of Amazon.com in a research report on Monday, June 1st. Evercore boosted their price target on shares of Amazon.com from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Finally, Morgan Stanley upped their price target on shares of Amazon.com from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $312.78.

Amazon.com Stock Up 0.6%

Shares of NASDAQ AMZN opened at $234.11 on Wednesday. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56. The firm has a 50-day simple moving average of $256.40 and a two-hundred day simple moving average of $234.12. The company has a market cap of $2.52 trillion, a P/E ratio of 28.00, a PEG ratio of 1.74 and a beta of 1.45. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm had revenue of $181.52 billion for the quarter, compared to analysts’ expectations of $177.28 billion. During the same quarter in the prior year, the firm posted $1.59 earnings per share. The company’s quarterly revenue was up 16.6% on a year-over-year basis. Research analysts anticipate that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.