Chemung Canal Trust Co. Has $13.36 Million Stake in Amazon.com, Inc. (AMZN)

Chemung Canal Trust Co. lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 5.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,858 shares of the e-commerce giant’s stock after selling 476 shares during the period. Amazon.com makes up 3.2% of Chemung Canal Trust Co.’s portfolio, making the stock its 4th biggest position. Chemung Canal Trust Co.’s holdings in Amazon.com were worth $13,357,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Guidant Wealth Advisors grew its holdings in Amazon.com by 657.4% during the 2nd quarter. Guidant Wealth Advisors now owns 409 shares of the e-commerce giant’s stock valued at $100,000 after purchasing an additional 355 shares in the last quarter. Taylor Hoffman Wealth Management acquired a new stake in Amazon.com during the 4th quarter valued at $108,000. Santori & Peters Inc. acquired a new stake in Amazon.com during the 4th quarter valued at $121,000. Lee Financial Co grew its holdings in Amazon.com by 154.3% during the 1st quarter. Lee Financial Co now owns 89 shares of the e-commerce giant’s stock valued at $129,000 after purchasing an additional 54 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in Amazon.com during the 1st quarter valued at $145,000. 57.32% of the stock is owned by institutional investors.

A number of research firms recently weighed in on AMZN. Macquarie reaffirmed a “buy” rating on shares of Amazon.com in a report on Friday, June 22nd. JMP Securities reaffirmed a “buy” rating on shares of Amazon.com in a report on Thursday, June 21st. BidaskClub lowered shares of Amazon.com from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 26th. Zacks Investment Research raised shares of Amazon.com from a “hold” rating to a “buy” rating and set a $1,993.00 price target for the company in a report on Tuesday, July 31st. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $2,110.00 price target on shares of Amazon.com in a report on Friday, July 27th. Two research analysts have rated the stock with a hold rating and fifty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,985.06.

In other news, Director Tom A. Alberg sold 2,320 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $1,827.29, for a total value of $4,239,312.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey A. Wilke sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $1,981.72, for a total transaction of $3,963,440.00. Following the completion of the transaction, the chief executive officer now owns 10,000 shares in the company, valued at $19,817,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,308 shares of company stock worth $47,905,498. Insiders own 16.30% of the company’s stock.

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

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

Amazon.com Company 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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