CIBC Asset Management Inc Sells 67,522 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

CIBC Asset Management Inc cut its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,438,239 shares of the e-commerce giant’s stock after selling 67,522 shares during the quarter. Amazon.com makes up approximately 1.7% of CIBC Asset Management Inc’s investment portfolio, making the stock its 15th largest holding. CIBC Asset Management Inc’s holdings in Amazon.com were worth $471,190,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. USA Financial Formulas boosted its position in shares of Amazon.com by 626.2% in the 4th quarter. USA Financial Formulas now owns 19,941 shares of the e-commerce giant’s stock worth $3,030,000 after purchasing an additional 17,195 shares in the last quarter. Forum Financial Management LP raised its position in shares of Amazon.com by 9.9% in the 4th quarter. Forum Financial Management LP now owns 97,849 shares of the e-commerce giant’s stock valued at $14,867,000 after purchasing an additional 8,796 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Amazon.com by 3.1% during the fourth quarter. Ieq Capital LLC now owns 1,086,664 shares of the e-commerce giant’s stock worth $165,108,000 after buying an additional 33,010 shares during the period. Checchi Capital Advisers LLC raised its stake in Amazon.com by 5.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 77,469 shares of the e-commerce giant’s stock worth $11,771,000 after acquiring an additional 3,794 shares during the last quarter. Finally, Wambolt & Associates LLC lifted its position in Amazon.com by 2.4% during the 4th quarter. Wambolt & Associates LLC now owns 7,616 shares of the e-commerce giant’s stock worth $1,157,000 after acquiring an additional 178 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Insider Activity at Amazon.com

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares in the company, valued at approximately $186,450,290,169.39. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,634,860 shares of company stock valued at $926,639,482. Corporate insiders own 10.80% of the company’s stock.

Amazon.com Stock Down 0.9 %

NASDAQ AMZN opened at $186.33 on Tuesday. The business has a fifty day moving average price of $179.00 and a 200 day moving average price of $182.74. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company has a market cap of $1.94 trillion, a P/E ratio of 52.19, a P/E/G ratio of 1.46 and a beta of 1.14. Amazon.com, Inc. has a one year low of $118.35 and a one year high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Research analysts anticipate that Amazon.com, Inc. will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMZN shares. UBS Group increased their price objective on Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird increased their price target on shares of Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. JMP Securities lifted their price objective on shares of Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group dropped their price objective on shares of Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America reduced their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $223.65.

Amazon.com Company 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.