Corbyn Investment Management Inc. MD Lowers Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Posted by Defense World Staff on Apr 29th, 2023

Corbyn Investment Management Inc. MD lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,579 shares of the e-commerce giant’s stock after selling 3,889 shares during the period. Amazon.com makes up 1.4% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 27th biggest position. Corbyn Investment Management Inc. MD’s holdings in Amazon.com were worth $3,577,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMZN. Kavar Capital Partners Group LLC increased its stake in Amazon.com by 7.6% during the first quarter. Kavar Capital Partners Group LLC now owns 1,121 shares of the e-commerce giant’s stock worth $3,654,000 after acquiring an additional 79 shares during the last quarter. IFM Investors Pty Ltd increased its stake in Amazon.com by 21.8% during the first quarter. IFM Investors Pty Ltd now owns 72,911 shares of the e-commerce giant’s stock worth $237,686,000 after acquiring an additional 13,060 shares during the last quarter. Ironwood Wealth Management LLC. increased its stake in Amazon.com by 0.8% during the first quarter. Ironwood Wealth Management LLC. now owns 1,810 shares of the e-commerce giant’s stock worth $5,901,000 after acquiring an additional 15 shares during the last quarter. Markel Corp boosted its position in shares of Amazon.com by 0.6% in the first quarter. Markel Corp now owns 99,068 shares of the e-commerce giant’s stock worth $322,956,000 after buying an additional 550 shares during the period. Finally, Leelyn Smith LLC boosted its position in shares of Amazon.com by 24.8% in the first quarter. Leelyn Smith LLC now owns 2,721 shares of the e-commerce giant’s stock worth $8,870,000 after buying an additional 540 shares during the period. 57.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMZN shares. Truist Financial upped their target price on Amazon.com from $142.00 to $144.00 in a research report on Wednesday, April 12th. Credit Suisse Group decreased their target price on Amazon.com from $150.00 to $140.00 in a research report on Tuesday. Morgan Stanley upped their target price on Amazon.com from $140.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. New Street Research started coverage on Amazon.com in a research report on Wednesday, January 4th. They issued a “buy” rating and a $130.00 target price for the company. Finally, DA Davidson upped their target price on Amazon.com from $114.00 to $134.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Three analysts have rated the stock with a hold rating and forty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.82.

Amazon.com Stock Performance

Shares of NASDAQ AMZN opened at $105.45 on Friday. The stock has a fifty day moving average price of $99.02 and a two-hundred day moving average price of $97.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94. The firm has a market cap of $1.08 trillion, a P/E ratio of -393.46, a PEG ratio of 4.24 and a beta of 1.26. Amazon.com, Inc. has a 1 year low of $81.43 and a 1 year high of $146.57.

Amazon.com (NASDAQ:AMZN – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The e-commerce giant reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The firm had revenue of $127.36 billion during the quarter, compared to analyst estimates of $124.57 billion. Amazon.com had a positive return on equity of 5.33% and a negative net margin of 0.53%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS. Research analysts forecast that Amazon.com, Inc. will post 1.37 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total transaction of $568,293.00. Following the completion of the sale, the chief executive officer now directly owns 124,180 shares of the company’s stock, valued at approximately $13,837,377.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas J. Herrington sold 4,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $102.25, for a total transaction of $409,000.00. Following the completion of the sale, the chief executive officer now directly owns 556,298 shares of the company’s stock, valued at approximately $56,881,470.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 5,100 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total value of $568,293.00. Following the sale, the chief executive officer now directly owns 124,180 shares of the company’s stock, valued at $13,837,377.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,713 shares of company stock valued at $7,739,103. 12.30% of the stock is owned by corporate insiders.

Amazon.com Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.