Chesapeake Wealth Management Sells 584 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Chesapeake Wealth Management lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,562 shares of the e-commerce giant’s stock after selling 584 shares during the quarter. Amazon.com accounts for about 1.6% of Chesapeake Wealth Management’s investment portfolio, making the stock its 15th largest position. Chesapeake Wealth Management’s holdings in Amazon.com were worth $4,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Garrison Point Advisors LLC lifted its position in Amazon.com by 0.3% during the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after purchasing an additional 55 shares during the period. Meridian Investment Counsel Inc. lifted its holdings in shares of Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC raised its holdings in shares of Amazon.com by 0.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after acquiring an additional 56 shares during the period. Stordahl Capital Management Inc. boosted its position in shares of Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares during the period. Finally, Lutz Financial Services LLC grew its holdings in shares of Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AMZN has been the subject of several recent research reports. Benchmark restated a “buy” rating and set a $200.00 target price on shares of Amazon.com in a report on Friday, August 2nd. TD Securities raised their target price on shares of Amazon.com from $225.00 to $245.00 in a research note on Wednesday, July 10th. DA Davidson restated a “buy” rating and set a $235.00 target price on shares of Amazon.com in a research note on Thursday, October 10th. Barclays increased their target price on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their price target on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $236.78.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $188.99 on Monday. The firm’s fifty day moving average is $181.98 and its 200-day moving average is $183.43. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20. The firm has a market cap of $1.97 trillion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Sell-side analysts predict that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

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.