Benin Management CORP lifted its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,379 shares of the e-commerce giant’s stock after acquiring an additional 66 shares during the period. Amazon.com accounts for about 1.0% of Benin Management CORP’s investment portfolio, making the stock its 20th biggest holding. Benin Management CORP’s holdings in Amazon.com were worth $2,394,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Enterprise Trust & Investment Co purchased a new position in shares of Amazon.com in the second quarter worth $27,000. Phocas Financial Corp. purchased a new position in shares of Amazon.com in the second quarter worth $45,000. Litman Gregory Asset Management LLC purchased a new position in shares of Amazon.com in the second quarter worth $53,000. Cerebellum GP LLC raised its stake in shares of Amazon.com by 18.0% in the third quarter. Cerebellum GP LLC now owns 59 shares of the e-commerce giant’s stock worth $69,000 after purchasing an additional 9 shares during the last quarter. Finally, Clear Investment Research LLC raised its stake in shares of Amazon.com by 27.6% in the second quarter. Clear Investment Research LLC now owns 37 shares of the e-commerce giant’s stock worth $70,000 after purchasing an additional 8 shares during the last quarter. Institutional investors own 55.73% of the company’s stock.
In other Amazon.com news, VP Shelley Reynolds sold 379 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $1,775.43, for a total transaction of $672,887.97. Following the completion of the sale, the vice president now owns 6,307 shares of the company’s stock, valued at $11,197,637.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian T. Olsavsky sold 1,765 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $1,783.00, for a total value of $3,146,995.00. Following the sale, the chief financial officer now directly owns 2,480 shares of the company’s stock, valued at approximately $4,421,840. The disclosure for this sale can be found here. Insiders have sold 22,443 shares of company stock valued at $40,205,835 in the last three months. 16.10% of the stock is currently owned by corporate insiders.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 25th. The e-commerce giant reported $5.22 EPS for the quarter, missing analysts’ consensus estimates of $5.29 by ($0.07). Amazon.com had a net margin of 4.80% and a return on equity of 26.27%. The firm had revenue of $63.40 billion for the quarter, compared to analysts’ expectations of $62.59 billion. During the same quarter last year, the company posted $5.07 EPS. The firm’s revenue was up 19.9% compared to the same quarter last year. As a group, sell-side analysts predict that Amazon.com, Inc. will post 23.6 EPS for the current fiscal year.
Several research analysts have recently weighed in on the company. Pivotal Research restated a “buy” rating and issued a $2,615.00 price target (down previously from $2,750.00) on shares of Amazon.com in a research note on Friday, July 26th. ValuEngine cut Amazon.com from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. restated a “buy” rating on shares of Amazon.com in a research note on Monday, July 29th. Goldman Sachs Group restated a “buy” rating and issued a $2,350.00 price target (down previously from $2,400.00) on shares of Amazon.com in a research note on Tuesday, October 15th. Finally, Cowen set a $2,500.00 price target on Amazon.com and gave the stock a “buy” rating in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty-nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $2,240.04.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.
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