CG Asset Management LLC lowered its position in shares of Amazon.com Inc. (NASDAQ:AMZN) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,382 shares of the e-commerce giant’s stock after selling 110 shares during the period. Amazon.com comprises approximately 5.6% of CG Asset Management LLC’s investment portfolio, making the stock its largest position. CG Asset Management LLC’s holdings in Amazon.com were worth $13,870,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMZN. Cornerstone Advisors Inc. increased its position in shares of Amazon.com by 0.4% in the second quarter. Cornerstone Advisors Inc. now owns 558 shares of the e-commerce giant’s stock worth $399,000 after buying an additional 2 shares in the last quarter. First Niagara Bank increased its position in shares of Amazon.com by 0.3% in the second quarter. First Niagara Bank now owns 1,330 shares of the e-commerce giant’s stock worth $952,000 after buying an additional 4 shares in the last quarter. Hartford Financial Management Inc. increased its position in shares of Amazon.com by 1.1% in the second quarter. Hartford Financial Management Inc. now owns 475 shares of the e-commerce giant’s stock worth $339,000 after buying an additional 5 shares in the last quarter. Trust Co. of Virginia VA increased its position in shares of Amazon.com by 1.1% in the second quarter. Trust Co. of Virginia VA now owns 625 shares of the e-commerce giant’s stock worth $447,000 after buying an additional 7 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Amazon.com by 0.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,302 shares of the e-commerce giant’s stock worth $932,000 after buying an additional 7 shares in the last quarter. Institutional investors own 65.44% of the company’s stock.

Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

Amazon.com Inc. (NASDAQ:AMZN) traded down 0.26% on Friday, reaching $839.43. 2,426,228 shares of the company’s stock were exchanged. The company has a market capitalization of $397.95 billion, a P/E ratio of 208.76 and a beta of 1.20. Amazon.com Inc. has a 1-year low of $474.00 and a 1-year high of $847.21. The firm has a 50-day moving average price of $789.64 and a 200-day moving average price of $718.27.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.67. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The company had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.54 billion. During the same period in the prior year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. Equities research analysts expect that Amazon.com Inc. will post $5.85 earnings per share for the current year.

AMZN has been the topic of several research reports. JMP Securities reaffirmed a “buy” rating and set a $775.00 price objective on shares of Amazon.com in a research report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $900.00 price objective on shares of Amazon.com in a research report on Sunday, July 10th. Bank of America Corp. reaffirmed a “buy” rating and set a $840.00 price objective on shares of Amazon.com in a research report on Sunday, July 17th. Zacks Investment Research raised Amazon.com from a “hold” rating to a “strong-buy” rating and set a $968.00 price objective on the stock in a research report on Friday. Finally, RBC Capital Markets set a $840.00 price objective on Amazon.com and gave the company a “buy” rating in a research report on Friday, July 29th. Five research analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $891.31.

In other Amazon.com news, VP Shelley Reynolds sold 625 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $770.10, for a total value of $481,312.50. Following the sale, the vice president now directly owns 6,519 shares of the company’s stock, valued at approximately $5,020,281.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 14,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the completion of the transaction, the chief executive officer now owns 68,141 shares of the company’s stock, valued at approximately $54,512,800. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by company insiders.

About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).

5 Day Chart for NASDAQ:AMZN

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