Canandaigua National Trust Co of Florida Has $3.54 Million Position in Amazon.com, Inc. $AMZN

Key Points

• Canandaigua National Trust Co of Florida increased its Amazon stake by 21% in the fourth quarter, buying 2,662 additional shares. Its holdings were valued at about $3.54 million, making Amazon its 9th-largest position.
• Amazon continues to draw strong analyst support, with firms like Bank of America and Goldman Sachs reiterating Buy ratings and raising price targets, including a new high-end target of $325–$310 range depending on the firm. MarketBeat says the consensus rating remains Moderate Buy.
• The company posted solid quarterly results, with EPS of $2.78 and revenue of $181.52 billion, both beating estimates and showing 16.6% year-over-year revenue growth. However, insider selling has continued, including recent stock sales by CEO Andrew Jassy and CEO Matthew Garman.

Canandaigua National Trust Co of Florida boosted its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 21.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,340 shares of the e-commerce giant's stock after buying an additional 2,662 shares during the quarter. Amazon.com makes up about 2.2% of Canandaigua National Trust Co of Florida's investment portfolio, making the stock its 9th largest holding. Canandaigua National Trust Co of Florida's holdings in Amazon.com were worth $3,541,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Fairway Wealth LLC boosted its position in shares of Amazon.com by 113.2% in the third quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant's stock worth $25,000 after purchasing an additional 60 shares during the period. Sellwood Investment Partners LLC bought a new position in shares of Amazon.com in the third quarter worth about $27,000. Bridge Generations Wealth Management LLC boosted its stake in shares of Amazon.com by 2,330.0% in the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock worth $53,000 after acquiring an additional 233 shares during the period. Cooksen Wealth LLC boosted its stake in shares of Amazon.com by 23.5% in the second quarter. Cooksen Wealth LLC now owns 247 shares of the e-commerce giant's stock worth $54,000 after acquiring an additional 47 shares during the period. Finally, Harbor Investment Advisory LLC boosted its stake in shares of Amazon.com by 2.4% in the fourth quarter. Harbor Investment Advisory LLC now owns 309,697 shares of the e-commerce giant's stock worth $71,000 after acquiring an additional 7,329 shares during the period. 72.20% of the stock is currently owned by institutional investors.

More Amazon.com News

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

• Positive Sentiment: Bank of America reiterated a Buy rating and raised its price target to $310, saying Amazon’s AI-powered shopping tools could help defend and expand its retail franchise. BofA Pounds the Table on Amazon (AMZN) Stock, Sets $310 Price Target
• Positive Sentiment: Analysts and market commentary highlighted Amazon’s breakout above key technical levels and said the stock remains in a bullish setup, which can attract momentum buyers. Amazon (AMZN) Recently Broke Out Above the 20-Day Moving Average
• Positive Sentiment: Recent coverage from multiple outlets pointed to Amazon’s AI initiatives, including Alexa for Shopping, as a potential long-term growth driver for retail and advertising. Amazon's Alexa for Shopping seen driving long-term retail growth
• Positive Sentiment: Jeff Bezos and other supporters defended heavy AI spending, and Bill Ackman reportedly added to Amazon, reinforcing the idea that major investors still see upside in the stock. Billionaire Bill Ackman Piled Into Amazon and Microsoft and Slashed His Fund's Mammoth Stake in This AI Kingpin by 95%
• Neutral Sentiment: Amazon shareholders re-elected the board and approved the existing pay and governance framework, signaling continuity rather than a major corporate change. Amazon Shareholders Back Board, Pay and Governance Status Quo
• Negative Sentiment: Amazon also faced fresh criticism from U.K. lawmakers over delivery practices, which could add regulatory pressure to the company’s logistics and marketplace operations. Amazon (AMZN) Hit with New Accusation From U.K. Lawmakers

Insider Activity

In other news, CEO Andrew R. Jassy sold 31,352 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total value of $8,621,800.00. Following the completion of the sale, the chief executive officer owned 2,175,766 shares in the company, valued at approximately $598,335,650. This trade represents a 1.42% decrease in their position. The transaction was disclosed in a legal 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 11,475 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $262.66, for a total transaction of $3,014,023.50. Following the completion of the sale, the chief executive officer owned 11,430 shares of the company's stock, valued at $3,002,203.80. This trade represents a 50.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 201,026 shares of company stock worth $49,128,874 over the last 90 days. Insiders own 8.90% of the company's stock.

Amazon.com Price Performance

NASDAQ:AMZN opened at $266.32 on Friday. The firm has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 31.86, a PEG ratio of 2.01 and a beta of 1.46. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56. The business has a 50 day simple moving average of $239.50 and a 200-day simple moving average of $231.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company earned $1.59 EPS. Equities analysts forecast that Amazon.com, Inc. will post 7.71 EPS for the current year.

Analyst Ratings Changes

AMZN has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a "buy" rating and issued a $320.00 price objective (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Wedbush dropped their price objective on Amazon.com from $340.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, February 6th. Moffett Nathanson upped their target price on shares of Amazon.com from $283.00 to $288.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. The Goldman Sachs Group restated a "buy" rating and set a $325.00 target price (up from $275.00) on shares of Amazon.com in a research report on Thursday, April 30th. Finally, Argus restated a "buy" rating and set a $325.00 target price on shares of Amazon.com in a research report on Friday, February 6th. Fifty-seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Amazon.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $312.66.

Amazon.com Profile

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.

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