Chemung Canal Trust Co. Sells 2,841 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Chemung Canal Trust Co. decreased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,680 shares of the e-commerce giant’s stock after selling 2,841 shares during the quarter. Amazon.com makes up approximately 2.0% of Chemung Canal Trust Co.’s portfolio, making the stock its 11th biggest position. Chemung Canal Trust Co.’s holdings in Amazon.com were worth $10,180,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Cooksen Wealth LLC acquired a new position in Amazon.com during the 4th quarter worth about $30,000. Strid Group LLC acquired a new position in Amazon.com during the 4th quarter worth about $43,000. Clarity Asset Management Inc. acquired a new position in Amazon.com during the 4th quarter worth about $46,000. Steph & Co. acquired a new position in Amazon.com during the 1st quarter worth about $65,000. Finally, Advantage Trust Co acquired a new position in Amazon.com during the 4th quarter worth about $68,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold 6,107,817 shares of company stock valued at $1,221,241,837 over the last three months. Company insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock opened at $178.50 on Friday. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20. The business has a fifty day moving average price of $182.68 and a 200-day moving average price of $180.99. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The firm has a market capitalization of $1.86 trillion, a P/E ratio of 50.00, a PEG ratio of 1.32 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. The firm had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. As a group, equities research analysts forecast that Amazon.com, Inc. will post 4.73 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Roth Mkm lifted their target price on Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of Amazon.com in a report on Friday, August 2nd. TD Cowen boosted their price objective on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. TD Securities boosted their price objective on Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. Finally, BMO Capital Markets boosted their price objective on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $221.36.

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.