Corundum Group Inc. Decreases Position in Amazon.com, Inc. (NASDAQ:AMZN)

Corundum Group Inc. reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 23.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,164 shares of the e-commerce giant's stock after selling 3,172 shares during the quarter. Amazon.com makes up about 0.9% of Corundum Group Inc.'s holdings, making the stock its 24th biggest holding. Corundum Group Inc.'s holdings in Amazon.com were worth $1,894,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. TB Alternative Assets Ltd. purchased a new stake in shares of Amazon.com in the 3rd quarter worth about $5,608,000. Violich Capital Management Inc. boosted its position in Amazon.com by 2.7% during the 3rd quarter. Violich Capital Management Inc. now owns 48,420 shares of the e-commerce giant's stock valued at $9,022,000 after acquiring an additional 1,265 shares in the last quarter. Penn Davis Mcfarland Inc. grew its holdings in shares of Amazon.com by 95.3% during the 3rd quarter. Penn Davis Mcfarland Inc. now owns 9,510 shares of the e-commerce giant's stock worth $1,772,000 after acquiring an additional 4,640 shares during the period. Brown Lisle Cummings Inc. raised its position in shares of Amazon.com by 6.7% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 42,695 shares of the e-commerce giant's stock worth $7,955,000 after acquiring an additional 2,675 shares in the last quarter. Finally, Godsey & Gibb Inc. lifted its stake in shares of Amazon.com by 11.8% in the 3rd quarter. Godsey & Gibb Inc. now owns 17,562 shares of the e-commerce giant's stock valued at $3,272,000 after purchasing an additional 1,852 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of Amazon.com stock traded down $1.23 during midday trading on Friday, hitting $197.15. The company had a trading volume of 7,491,490 shares, compared to its average volume of 41,448,922. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 42.55, a PEG ratio of 1.37 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $142.81 and a 12-month high of $215.90. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $192.79 and a 200 day simple moving average of $186.26.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $158.88 billion during 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 revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, analysts predict that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMZN has been the subject of a number of research reports. Sanford C. Bernstein increased their price objective on Amazon.com from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Needham & Company LLC upped their price objective on shares of Amazon.com from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. TD Cowen lifted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a "buy" rating in a report on Friday, November 1st. Scotiabank upped their price target on Amazon.com from $245.00 to $246.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 1st. Finally, Susquehanna lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the company a "positive" rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Amazon.com has a consensus rating of "Moderate Buy" and a consensus price target of $235.77.

Insider Activity

In related news, CEO Douglas J. Herrington sold 5,502 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares of the company's stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,011,423 shares of company stock valued at $1,249,093,896. Company 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.