Canandaigua National Bank & Trust Co. Decreases Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Canandaigua National Bank & Trust Co. cut its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,701 shares of the e-commerce giant's stock after selling 3,765 shares during the quarter. Amazon.com comprises about 1.1% of Canandaigua National Bank & Trust Co.'s holdings, making the stock its 15th largest position. Canandaigua National Bank & Trust Co.'s holdings in Amazon.com were worth $10,978,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $27,266,582,000. GAMMA Investing LLC boosted its stake in shares of Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors boosted its stake in shares of Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. boosted its stake in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant's stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded down $0.79 during midday trading on Friday, reaching $231.44. The company's stock had a trading volume of 28,649,591 shares, compared to its average volume of 40,402,120. The company has a market capitalization of $2.46 trillion, a P/E ratio of 37.69, a P/E/G ratio of 1.72 and a beta of 1.33. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The business's fifty day simple moving average is $215.66 and its 200-day simple moving average is $208.82.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. Amazon.com's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 25,102,037 shares of company stock worth $5,674,871,223. 9.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMZN has been the topic of several recent analyst reports. Moffett Nathanson boosted their target price on shares of Amazon.com from $250.00 to $253.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. DA Davidson dropped their target price on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. increased their price target on shares of Amazon.com from $240.00 to $255.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Mizuho dropped their target price on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Stifel Nicolaus dropped their target price on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and an average target price of $254.33.

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.