Amazon.com, Inc. (NASDAQ:AMZN) is Chemung Canal Trust Co.’s 6th Largest Position

Chemung Canal Trust Co. lessened its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 6.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,539 shares of the e-commerce giant’s stock after selling 4,455 shares during the period. Amazon.com accounts for 3.0% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 6th largest position. Chemung Canal Trust Co.’s holdings in Amazon.com were worth $14,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after buying an additional 11,370,309 shares during the period. Geode Capital Management LLC lifted its position in shares of Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after acquiring an additional 6,545,944 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after acquiring an additional 1,984,592 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after purchasing an additional 1,980,663 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares in the company, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,850 shares of company stock valued at $6,168,581. Corporate insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AMZN. Citigroup cut their target price on Amazon.com from $275.00 to $273.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Telsey Advisory Group restated an “outperform” rating and issued a $275.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Barclays upped their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Redburn Atlantic increased their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Wolfe Research boosted their price target on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $260.74.

Amazon.com Price Performance

Shares of AMZN stock opened at $228.93 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The firm has a market cap of $2.43 trillion, a P/E ratio of 41.40, a P/E/G ratio of 1.36 and a beta of 1.15. The business’s 50 day moving average price is $227.77 and its 200-day moving average price is $201.59.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. On average, equities research analysts anticipate that Amazon.com, Inc. will post 6.24 earnings per share for the current year.

Amazon.com 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.