CIBC Asset Management Inc Buys 153,722 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

CIBC Asset Management Inc grew its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,591,961 shares of the e-commerce giant’s stock after acquiring an additional 153,722 shares during the quarter. Amazon.com comprises approximately 1.6% of CIBC Asset Management Inc’s portfolio, making the stock its 17th biggest position. CIBC Asset Management Inc’s holdings in Amazon.com were worth $482,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AMZN. Legal & General Group Plc raised its stake in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp increased its position in Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after acquiring an additional 289,532 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Amazon.com by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 40,973,804 shares of the e-commerce giant’s stock valued at $7,917,906,000 after acquiring an additional 1,329,150 shares during the period. International Assets Investment Management LLC boosted its position in Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Amazon.com by 1.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 31,883,977 shares of the e-commerce giant’s stock valued at $6,161,579,000 after purchasing an additional 464,938 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Stifel Nicolaus lifted their target price on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price objective on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets restated an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a research note on Tuesday, December 3rd. Redburn Atlantic upped their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley raised their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Amazon.com Trading Up 1.8 %

AMZN opened at $229.05 on Thursday. The firm has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 49.05, a PEG ratio of 1.54 and a beta of 1.16. Amazon.com, Inc. has a one year low of $144.05 and a one year high of $233.00. The business has a 50 day simple moving average of $207.40 and a two-hundred day simple moving average of $192.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the business posted $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the transaction, the chief executive officer now directly owns 524,567 shares in the company, valued at approximately $110,159,070. This represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Amazon.com Company Profile

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.