Chemung Canal Trust Co. cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% during the 2nd quarter, Holdings Channel reports. The firm owned 7,858 shares of the e-commerce giant’s stock after selling 476 shares during the quarter. Amazon.com makes up about 3.2% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 4th largest position. Chemung Canal Trust Co.’s holdings in Amazon.com were worth $13,357,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in Amazon.com by 0.4% during the 4th quarter. BlackRock Inc. now owns 24,535,840 shares of the e-commerce giant’s stock valued at $28,693,927,000 after buying an additional 88,437 shares during the period. Summit Trail Advisors LLC increased its stake in Amazon.com by 180,406.1% during the 1st quarter. Summit Trail Advisors LLC now owns 9,848,415 shares of the e-commerce giant’s stock valued at $9,848,000 after buying an additional 9,842,959 shares during the period. UBS Asset Management Americas Inc. increased its stake in Amazon.com by 5.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 1,858,265 shares of the e-commerce giant’s stock valued at $2,173,185,000 after buying an additional 97,656 shares during the period. Fisher Asset Management LLC increased its stake in Amazon.com by 3.3% during the 1st quarter. Fisher Asset Management LLC now owns 1,853,073 shares of the e-commerce giant’s stock valued at $2,682,027,000 after buying an additional 59,516 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Amazon.com by 0.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,449,920 shares of the e-commerce giant’s stock valued at $2,098,527,000 after buying an additional 4,491 shares during the period. Hedge funds and other institutional investors own 57.32% of the company’s stock.

AMZN has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $2,500.00 target price (up previously from $1,850.00) on shares of Amazon.com in a research note on Wednesday, August 29th. Macquarie reissued a “buy” rating on shares of Amazon.com in a research note on Wednesday, August 29th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Amazon.com in a research note on Tuesday, August 7th. Robert W. Baird reissued a “buy” rating on shares of Amazon.com in a research note on Monday, September 3rd. Finally, Wells Fargo & Co reissued a “buy” rating and set a $2,110.00 target price on shares of Amazon.com in a research note on Tuesday, September 4th. Two analysts have rated the stock with a hold rating and fifty have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,985.06.

Amazon.com stock opened at $1,915.01 on Monday. The company has a market capitalization of $934.03 billion, a PE ratio of 420.88, a PEG ratio of 3.99 and a beta of 1.60. The company has a current ratio of 1.07, a quick ratio of 0.78 and a debt-to-equity ratio of 0.70. Amazon.com, Inc. has a fifty-two week low of $931.75 and a fifty-two week high of $2,050.50.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, July 26th. The e-commerce giant reported $5.07 earnings per share for the quarter, topping the consensus estimate of $2.49 by $2.58. The business had revenue of $52.89 billion for the quarter, compared to the consensus estimate of $53.37 billion. Amazon.com had a net margin of 3.02% and a return on equity of 18.47%. The firm’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. equities research analysts predict that Amazon.com, Inc. will post 17.77 earnings per share for the current fiscal year.

In other news, CEO Jeffrey A. Wilke sold 2,000 shares of Amazon.com stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $2,004.25, for a total value of $4,008,500.00. Following the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at $20,042,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Judith A. Mcgrath sold 500 shares of Amazon.com stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $1,905.00, for a total transaction of $952,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,308 shares of company stock worth $47,905,498. 16.30% of the stock is currently owned by insiders.

Amazon.com Profile

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 vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.

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

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