Cidel Asset Management Inc. Sells 611 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Cidel Asset Management Inc. reduced its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,372 shares of the e-commerce giant’s stock after selling 611 shares during the quarter. Cidel Asset Management Inc.’s holdings in Amazon.com were worth $4,710,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Cooksen Wealth LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at $30,000. Clarity Asset Management Inc. bought a new stake in shares of Amazon.com in the fourth quarter valued at $46,000. Steph & Co. bought a new stake in shares of Amazon.com in the first quarter valued at $65,000. Advantage Trust Co bought a new stake in shares of Amazon.com in the fourth quarter valued at $68,000. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Amazon.com in the first quarter valued at $69,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Trading Down 3.7 %

NASDAQ AMZN opened at $171.39 on Friday. Amazon.com, Inc. has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $181.10 and a 200-day moving average of $181.29. The firm has a market cap of $1.78 trillion, a PE ratio of 48.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Rosenblatt Securities boosted their target price on Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley decreased their price objective on Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Truist Financial boosted their price objective on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group decreased their price objective on Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective on the stock. in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $222.49.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 1,228,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $200.36, for a total value of $246,241,037.48. Following the transaction, the insider now directly owns 930,696,284 shares of the company’s stock, valued at approximately $186,474,307,462.24. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last 90 days. Insiders own 10.80% of the company’s stock.

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.