Amazon.com, Inc. $AMZN Shares Acquired by Chemung Canal Trust Co.

Key Points

• Chemung Canal Trust Co. increased its holdings in Amazon.com by 2.5% during the 2nd quarter, owning a total of 56,867 shares valued at approximately $12,476,000.
• Amazon’s CEO Andrew R. Jassy sold 19,872 shares worth over $4.4 million, indicating a 0.90% decrease in his ownership of the company.
• Analysts have raised Amazon's target stock prices, with Scotiabank setting a new target of $275.00 and several firms recommending a “Buy” rating, reflecting positive market sentiment.

Chemung Canal Trust Co. raised its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,867 shares of the e-commerce giant's stock after purchasing an additional 1,374 shares during the quarter. Amazon.com makes up 2.6% of Chemung Canal Trust Co.'s holdings, making the stock its 7th biggest position. Chemung Canal Trust Co.'s holdings in Amazon.com were worth $12,476,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. OLD National Bancorp IN lifted its holdings in Amazon.com by 5.2% during the 2nd quarter. OLD National Bancorp IN now owns 377,332 shares of the e-commerce giant's stock valued at $82,783,000 after purchasing an additional 18,675 shares during the last quarter. Olistico Wealth LLC lifted its holdings in shares of Amazon.com by 1.7% during the second quarter. Olistico Wealth LLC now owns 27,120 shares of the e-commerce giant's stock worth $5,950,000 after buying an additional 456 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of Amazon.com by 0.3% during the second quarter. Highland Capital Management LLC now owns 183,587 shares of the e-commerce giant's stock worth $40,277,000 after buying an additional 611 shares in the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Amazon.com by 6.0% during the second quarter. Carolina Wealth Advisors LLC now owns 1,056 shares of the e-commerce giant's stock worth $232,000 after buying an additional 60 shares in the last quarter. Finally, Sutton Place Investors LLC lifted its holdings in shares of Amazon.com by 23.4% during the second quarter. Sutton Place Investors LLC now owns 9,318 shares of the e-commerce giant's stock worth $2,044,000 after buying an additional 1,770 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 19,872 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $221.58, for a total transaction of $4,403,237.76. Following the completion of the sale, the chief executive officer owned 2,178,502 shares in the company, valued at approximately $482,712,473.16. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP David Zapolsky sold 13,570 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $222.76, for a total value of $3,022,853.20. Following the sale, the senior vice president owned 44,110 shares of the company's stock, valued at $9,825,943.60. This trade represents a 23.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,741,053 shares of company stock valued at $630,824,413 over the last three months. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their target price on Amazon.com from $250.00 to $275.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 22nd. DA Davidson lifted their target price on Amazon.com from $230.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen raised Amazon.com from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Oppenheimer dropped their target price on Amazon.com from $250.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their target price on Amazon.com from $255.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $267.27.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $222.03 on Wednesday. The stock's 50-day moving average is $225.57 and its 200-day moving average is $213.26. Amazon.com, Inc. has a 1-year low of $161.38 and a 1-year high of $242.52. The stock has a market cap of $2.37 trillion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 1.43 and a beta of 1.28. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, beating the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The business had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. Amazon.com has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

About Amazon.com

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.

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