Chemung Canal Trust Co. Has $10.56 Million Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Chemung Canal Trust Co. lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 14.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,493 shares of the e-commerce giant’s stock after selling 9,046 shares during the quarter. Amazon.com makes up about 2.3% of Chemung Canal Trust Co.’s portfolio, making the stock its 11th biggest position. Chemung Canal Trust Co.’s holdings in Amazon.com were worth $10,558,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMZN. Cornerstone Planning Group LLC increased its position in shares of Amazon.com by 135.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 13,142 shares of the e-commerce giant’s stock worth $2,373,000 after purchasing an additional 7,561 shares during the last quarter. Dogwood Wealth Management LLC increased its position in shares of Amazon.com by 4.3% during the 1st quarter. Dogwood Wealth Management LLC now owns 7,916 shares of the e-commerce giant’s stock worth $1,506,000 after purchasing an additional 327 shares during the last quarter. Brick & Kyle Associates increased its position in shares of Amazon.com by 1.1% during the 1st quarter. Brick & Kyle Associates now owns 48,691 shares of the e-commerce giant’s stock worth $9,225,000 after purchasing an additional 541 shares during the last quarter. Principal Securities Inc. increased its position in shares of Amazon.com by 0.7% during the 1st quarter. Principal Securities Inc. now owns 269,503 shares of the e-commerce giant’s stock worth $51,276,000 after purchasing an additional 1,876 shares during the last quarter. Finally, Prodigy Asset Management LLC acquired a new position in shares of Amazon.com during the 1st quarter worth approximately $202,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $211.65 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a market cap of $2.25 trillion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.57 and a beta of 1.31. The stock has a fifty day moving average price of $218.42 and a 200-day moving average price of $208.93.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The business had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. During the same period in the prior year, the company earned $1.26 EPS. Amazon.com’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at $203,649,402,587.43. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders sold 25,099,537 shares of company stock worth $5,674,394,548. 10.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Rosenblatt Securities boosted their price target on Amazon.com from $288.00 to $297.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday. Roth Capital set a $250.00 target price on Amazon.com and gave the stock a “buy” rating in a report on Tuesday, July 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Amazon.com in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of Amazon.com in a report on Friday. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Amazon.com has an average rating of “Buy” and a consensus target price of $262.45.

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.