Canandaigua National Bank & Trust Co. Makes New Investment in Amazon.com, Inc. $AMZN

Key Points

• Canandaigua National Bank & Trust Co. initiated a $13.3 million Amazon position by purchasing 55,944 shares in the second quarter, making Amazon its 19th-largest holding and about 1.1% of its portfolio. Institutional investors collectively own 72.2% of Amazon’s stock.
• Amazon reported strong quarterly results, with earnings of $5.75 per share versus the $1.82 consensus estimate and revenue of $200.61 billion, up 19.6% year over year. Analysts remain bullish, with a “Moderate Buy” consensus rating and an average price target of $322.56.
• Several insiders sold shares under pre-arranged Rule 10b5-1 plans, totaling 62,650 shares worth approximately $16.5 million during the quarter. Key risks include valuation concerns, heavy AI infrastructure spending and weaker retail demand indicators.

Canandaigua National Bank & Trust Co. bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 55,944 shares of the e-commerce giant's stock, valued at approximately $13,334,000. Amazon.com makes up approximately 1.1% of Canandaigua National Bank & Trust Co.'s investment portfolio, making the stock its 19th largest position.

Other hedge funds have also made changes to their positions in the company. MilWealth Group LLC lifted its position in shares of Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after purchasing an additional 79 shares during the period. Lifetime Wealth Management P.C. purchased a new position in Amazon.com during the fourth quarter valued at approximately $45,000. Elkhorn Partners Limited Partnership increased its holdings in Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock valued at $46,000 after buying an additional 180 shares during the period. Fairway Wealth LLC raised its stake in Amazon.com by 95.6% in the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock worth $51,000 after buying an additional 108 shares in the last quarter. Finally, Prudent Man Investment Management Inc. lifted its holdings in Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock worth $53,000 after buying an additional 107 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP David Zapolsky sold 9,270 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the sale, the senior vice president directly owned 41,190 shares of the company's stock, valued at $11,060,750.70. The trade was a 18.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $262.38, for a total value of $620,003.94. Following the sale, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. The trade was a 1.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 62,650 shares of company stock valued at $16,535,457. Corporate insiders own 8.90% of the company's stock.

Amazon.com Price Performance

Shares of AMZN stock opened at $262.65 on Monday. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $287.20. The firm has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.75 and a beta of 1.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 1.03. The stock's 50-day simple moving average is $247.91 and its 200-day simple moving average is $238.66.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, beating the consensus estimate of $1.82 by $3.93. The firm had revenue of $200.61 billion during the quarter, compared to analyst estimates of $197.03 billion. Amazon.com had a net margin of 17.44% and a return on equity of 18.00%. Amazon.com's revenue was up 19.6% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. As a group, equities analysts forecast that Amazon.com, Inc. will post 8.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $375.00 target price (up from $335.00) on shares of Amazon.com in a research report on Friday, July 31st. Citizens Jmp restated a "market outperform" rating and set a $315.00 price objective on shares of Amazon.com in a research note on Friday, July 31st. Monness Crespi & Hardt raised their price objective on Amazon.com from $315.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Evercore reiterated an "outperform" rating on shares of Amazon.com in a research note on Tuesday, July 28th. Finally, Arete Research boosted their target price on shares of Amazon.com from $301.00 to $310.00 and gave the stock a "buy" rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $322.56.

Key Stories Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Institutional buying supports sentiment. Thrive Capital disclosed a roughly $215 million Amazon position, while Baupost Group added 625,100 shares and Dodge & Cox increased its holding by approximately 1.6 million shares. Thrive Capital discloses Amazon stake
• Positive Sentiment: AWS remains the central bullish catalyst. Commentary points to accelerating AWS growth for five consecutive quarters, a substantial backlog and customer demand extending into 2028. Amazon Web Services also became AppFolio’s preferred cloud provider, adding evidence of enterprise demand. AppFolio selects AWS
• Positive Sentiment: New growth opportunities are expanding. Amazon won a Space Force communications contract, while its AI infrastructure spending is helping drive demand for data-center and semiconductor suppliers. Analysts cited in recent coverage remain bullish on both Amazon and Alphabet. Amazon wins Space Force contract
• Neutral Sentiment: Valuation remains a debate. Amazon is viewed favorably versus some large-cap peers, but coverage notes that its forward earnings multiple is higher than its trailing multiple. That may reflect expected earnings growth, though it leaves less room for execution disappointments.
• Negative Sentiment: Retail data raised demand concerns. U.S. retail sales fell in July, with online spending declining after Amazon’s summer sales event. Higher fuel and operating costs may also pressure big-box retailers and consumer purchasing power. July retail sales decline
• Negative Sentiment: AI investment brings financial and execution risk. Amazon and other hyperscalers are issuing significant debt to fund infrastructure expansion, increasing concerns about returns on spending and potential pressure on future profits. Amazon’s lack of a dividend may also limit appeal for income-focused investors.
• Negative Sentiment: Twitch backlash adds reputational risk. Twitch’s decision to use livestream content for Amazon AI training, with the feature reportedly enabled automatically, has angered creators and could create privacy, regulatory and user-retention concerns. Twitch AI data-sharing backlash

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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