Canandaigua National Trust Co of Florida Buys 15,839 Shares of Amazon.com, Inc. $AMZN

Key Points

• Canandaigua National Trust Co. of Florida initiated a stake of 15,839 Amazon shares worth approximately $3.95 million, making Amazon its seventh-largest holding. Institutional investors collectively own 72.2% of Amazon’s stock.
• Wall Street remains broadly bullish: 56 analysts rate Amazon a Buy and three rate it a Hold, with a consensus price target of $322.53. Recent targets range as high as $365.
• Amazon’s latest quarter beat expectations, with revenue up 19.6% year over year and EPS of $5.75 versus the $1.82 consensus estimate, but investors remain concerned about capital spending exceeding $220 billion and its impact on free cash flow.

Canandaigua National Trust Co of Florida purchased a new stake in Amazon.com, Inc. (NASDAQ:AMZN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,839 shares of the e-commerce giant's stock, valued at approximately $3,946,000. Amazon.com makes up about 2.2% of Canandaigua National Trust Co of Florida's holdings, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMZN. State Street Corp increased its holdings in shares of Amazon.com by 5.5% in the 2nd quarter. State Street Corp now owns 411,848,346 shares of the e-commerce giant's stock valued at $95,504,904,000 after acquiring an additional 21,398,025 shares during the last quarter. Auto Owners Insurance Co raised its position in shares of Amazon.com by 27,376.7% during the 4th quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant's stock worth $2,272,397,000 after acquiring an additional 98,090,585 shares in the last quarter. Bank of America Corp DE purchased a new stake in Amazon.com during the second quarter worth approximately $22,218,775,000. Bank of New York Mellon Corp purchased a new stake in Amazon.com during the second quarter worth approximately $16,341,405,000. Finally, Amundi lifted its stake in Amazon.com by 3.9% during the second quarter. Amundi now owns 63,822,242 shares of the e-commerce giant's stock worth $15,211,393,000 after purchasing an additional 2,421,739 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMZN. JPMorgan Chase & Co. upped their price target on Amazon.com from $330.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Morgan Stanley reissued an "overweight" rating and set a $335.00 price objective (up from $330.00) on shares of Amazon.com in a report on Friday, July 31st. Piper Sandler reissued an "overweight" rating and set a $320.00 price objective (up from $315.00) on shares of Amazon.com in a report on Friday, July 31st. Wedbush boosted their price objective on shares of Amazon.com from $293.00 to $310.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Amazon.com in a research report on Friday, July 31st. Fifty-six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $322.53.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas Herrington sold 6,362 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $259.01, for a total transaction of $1,647,821.62. Following the completion of the transaction, the chief executive officer owned 476,681 shares in the company, valued at approximately $123,465,145.81. This represents a 1.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Matthew S. Garman sold 14,541 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $259.06, for a total transaction of $3,766,991.46. Following the transaction, the chief executive officer owned 17,794 shares of the company's stock, valued at approximately $4,609,713.64. The trade was a 44.97% 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. Insiders sold a total of 71,589 shares of company stock worth $18,580,515 in the last ninety days. Insiders own 8.90% of the company's stock.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Amazon is reportedly in advanced discussions to acquire AI startup Decart for approximately $7 billion. Decart’s software helps developers switch workloads among different AI chips, potentially strengthening AWS, Amazon’s custom-chip strategy and its broader AI infrastructure offering. The deal remains unfinalized, but investors view it as a way to acquire specialized technology and talent. Amazon weighs Decart deal
• Positive Sentiment: A bullish fundamental case remains intact: AWS growth is reportedly above 35%, AI-related demand is supporting a cloud backlog approaching $500 billion, and operating cash flow has risen 33% to $161.4 billion. Analysts at Erste Group also raised their fiscal 2027 EPS forecast to $10.71 from $10.54. Amazon free cash flow outlook
• Neutral Sentiment: Investors are awaiting Q3 results later this month for evidence that AWS demand, advertising and revenue growth can offset the near-term impact of AI infrastructure spending. Analysts generally remain positive, although Cantor Fitzgerald recently reduced its price target to $310 from $320 while retaining an Overweight rating. Amazon Q3 earnings preview
• Negative Sentiment: Amazon’s planned capital spending could exceed $220 billion this year. Depreciation, energy costs and rapidly aging AI hardware are pressuring free cash flow, raising concerns that AWS growth and its large backlog may take time to produce adequate returns. The potential Decart purchase also adds to concerns about valuation and capital discipline.
• Negative Sentiment: The UK government is expected to target online marketplaces, including Amazon, in a tax crackdown. New fees or compliance requirements could increase costs for Amazon and third-party sellers. UK online marketplace tax crackdown
• Negative Sentiment: Apple’s new HomeView smart display, cameras, doorbell and smart lock expand competition with Amazon’s Echo and Ring businesses, potentially increasing pressure on Amazon’s consumer-device margins and market share. Apple challenges Amazon in smart home

Amazon.com Trading Down 0.4%

NASDAQ:AMZN opened at $258.58 on Wednesday. The firm has a market cap of $2.79 trillion, a P/E ratio of 20.80, a PEG ratio of 2.01 and a beta of 1.45. The company has a current ratio of 1.03, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The stock's 50 day simple moving average is $257.96 and its 200-day simple moving average is $250.86. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $287.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The e-commerce giant reported $5.75 EPS for the quarter, topping the consensus estimate of $1.82 by $3.93. Amazon.com had a return on equity of 18.00% and a net margin of 17.44%. The business had revenue of $200.61 billion during the quarter, compared to analysts' expectations of $197.03 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company's quarterly revenue was up 19.6% compared to the same quarter last year. Equities analysts anticipate that Amazon.com, Inc. will post 8.03 EPS for the current year.

About Amazon.com

Amazon.com, Inc is a global technology and commerce company that operates online marketplaces, physical stores, and a broad portfolio of digital and cloud-based services. The company offers consumer products across categories such as electronics, household goods, apparel, groceries, and entertainment, while also providing third-party sellers with tools for listing, selling, and fulfilling orders.

Amazon's major businesses include Amazon Web Services (AWS), which provides cloud computing, storage, database, analytics, and artificial intelligence services; Prime, a membership program that includes shipping, streaming, and other benefits; and digital entertainment services such as Prime Video, Amazon Music, Kindle, and Audible.

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