Chemung Canal Trust Co. Sells 214 Shares of Amazon.com, Inc. (AMZN)
Chemung Canal Trust Co. lessened its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,231 shares of the e-commerce giant’s stock after selling 214 shares during the period. Amazon.com comprises about 1.9% of Chemung Canal Trust Co.’s holdings, making the stock its 19th largest holding. Chemung Canal Trust Co.’s holdings in Amazon.com were worth $8,183,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLD Second National Bank of Aurora lifted its stake in shares of Amazon.com by 15.0% in the 1st quarter. OLD Second National Bank of Aurora now owns 115 shares of the e-commerce giant’s stock valued at $102,000 after acquiring an additional 15 shares during the last quarter. Lipe & Dalton bought a new stake in shares of Amazon.com in the 1st quarter valued at about $124,000. Arcadia Investment Management Corp MI lifted its stake in shares of Amazon.com by 43.7% in the 1st quarter. Arcadia Investment Management Corp MI now owns 171 shares of the e-commerce giant’s stock valued at $152,000 after acquiring an additional 52 shares during the last quarter. First PREMIER Bank lifted its stake in shares of Amazon.com by 8.5% in the 1st quarter. First PREMIER Bank now owns 191 shares of the e-commerce giant’s stock valued at $169,000 after acquiring an additional 15 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. bought a new stake in shares of Amazon.com in the 1st quarter valued at about $180,000. 60.80% of the stock is owned by institutional investors.
In related news, CEO Jeffrey A. Wilke sold 2,800 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $955.20, for a total value of $2,674,560.00. Following the transaction, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $9,552,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Shelley Reynolds sold 544 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $986.52, for a total transaction of $536,666.88. Following the completion of the transaction, the vice president now directly owns 6,533 shares in the company, valued at $6,444,935.16. The disclosure for this sale can be found here. Insiders sold a total of 9,793 shares of company stock worth $9,574,377 over the last 90 days. Company insiders own 17.70% of the company’s stock.
Amazon.com, Inc. (NASDAQ:AMZN) traded up 0.78% during trading on Wednesday, reaching $990.20. 1,680,360 shares of the company’s stock traded hands. The company has a market cap of $475.67 billion, a PE ratio of 251.83 and a beta of 1.47. Amazon.com, Inc. has a 12-month low of $710.10 and a 12-month high of $1,083.31. The company has a 50 day moving average price of $981.80 and a 200-day moving average price of $946.71.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($1.00). Amazon.com had a net margin of 1.28% and a return on equity of 9.38%. The firm had revenue of $37.96 billion during the quarter, compared to analyst estimates of $37.18 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. Amazon.com’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Amazon.com, Inc. will post $4.01 EPS for the current fiscal year.
AMZN has been the subject of a number of recent research reports. Credit Suisse Group reissued an “outperform” rating on shares of Amazon.com in a research note on Thursday, August 31st. Cowen and Company reiterated an “outperform” rating and set a $1,125.00 target price on shares of Amazon.com in a report on Thursday, August 10th. Robert W. Baird reiterated an “outperform” rating and set a $1,100.00 target price on shares of Amazon.com in a report on Friday, May 19th. Deutsche Bank AG reiterated a “buy” rating on shares of Amazon.com in a report on Monday, June 12th. Finally, Zacks Investment Research downgraded Amazon.com from a “hold” rating to a “strong sell” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-six have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $1,094.66.
Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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