Chemung Canal Trust Co. Decreases Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Chemung Canal Trust Co. trimmed its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 20.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,521 shares of the e-commerce giant’s stock after selling 14,640 shares during the quarter. Amazon.com makes up 1.9% of Chemung Canal Trust Co.’s holdings, making the stock its 13th biggest position. Chemung Canal Trust Co.’s holdings in Amazon.com were worth $10,015,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cooksen Wealth LLC bought a new stake in Amazon.com in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Amazon.com by 45.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 86 shares during the period. Strid Group LLC purchased a new stake in shares of Amazon.com during the 4th quarter valued at approximately $43,000. Harbor Investment Advisory LLC boosted its holdings in Amazon.com by 0.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 1,988 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at approximately $46,000. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $181.38, for a total value of $90,690.00. Following the sale, the chief executive officer now owns 130,600 shares in the company, valued at $23,688,228. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the completion of the transaction, the chief executive officer now owns 2,025,358 shares in the company, valued at $367,480,955.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the completion of the sale, the chief executive officer now directly owns 130,600 shares in the company, valued at $23,688,228. The disclosure for this sale can be found here. Insiders sold a total of 1,532,985 shares of company stock worth $305,578,679 in the last three months. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup raised their price target on Amazon.com from $235.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Moffett Nathanson reaffirmed a “buy” rating and set a $228.00 target price on shares of Amazon.com in a report on Thursday, April 11th. Bank of America increased their price target on shares of Amazon.com from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Roth Mkm reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $205.00) on shares of Amazon.com in a research note on Wednesday, May 1st. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $215.86.

Get Our Latest Stock Report on AMZN

Amazon.com Stock Up 1.2 %

Shares of NASDAQ:AMZN opened at $200.00 on Friday. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 56.02, a P/E/G ratio of 1.41 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The stock has a 50 day moving average price of $185.99 and a 200-day moving average price of $174.63. Amazon.com, Inc. has a 52-week low of $118.35 and a 52-week high of $200.55.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The business had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same quarter in the prior year, the company earned $0.31 earnings per share. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.

About Amazon.com

(Free Report)

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.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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