CIBC Asset Management Inc Acquires 246,507 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

CIBC Asset Management Inc increased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,838,468 shares of the e-commerce giant’s stock after purchasing an additional 246,507 shares during the period. Amazon.com accounts for about 2.0% of CIBC Asset Management Inc’s holdings, making the stock its 10th biggest holding. CIBC Asset Management Inc’s holdings in Amazon.com were worth $622,604,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew 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 valued at $72,921,080,000 after acquiring an additional 38,949,065 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of Amazon.com by 82,457.3% in the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after purchasing an additional 11,391,479 shares during the period. State Street Corp grew its holdings in Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC grew its holdings in Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in Amazon.com by 23,742.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 5,102,618 shares of the e-commerce giant’s stock worth $1,119,463,000 after buying an additional 5,081,217 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $195.74 on Tuesday. The stock has a market cap of $2.07 trillion, a P/E ratio of 35.40, a P/E/G ratio of 1.50 and a beta of 1.19. The firm’s 50-day simple moving average is $221.02 and its 200 day simple moving average is $207.92. 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 quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Equities analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMZN. Royal Bank of Canada upped their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Tigress Financial increased their price target on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, December 20th. DA Davidson raised their price objective on Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their target price on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Wolfe Research raised their price target on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $260.65.

Insiders Place Their Bets

In other news, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 5,848 shares of Amazon.com stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.72, for a total value of $1,290,770.56. Following the transaction, the senior vice president now directly owns 69,162 shares in the company, valued at approximately $15,265,436.64. The trade was a 7.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,298 shares of company stock worth $22,871,828 over the last ninety days. Company 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.