CIBC Private Wealth Group LLC Sells 337,815 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

CIBC Private Wealth Group LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.1% in the fourth quarter, Holdings Channel reports. The firm owned 10,695,476 shares of the e-commerce giant’s stock after selling 337,815 shares during the period. Amazon.com accounts for 4.3% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 3rd biggest holding. CIBC Private Wealth Group LLC’s holdings in Amazon.com were worth $2,375,786,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AMZN. Swedbank AB raised its holdings in shares of Amazon.com by 1.4% during the third quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant’s stock worth $2,484,864,000 after acquiring an additional 183,610 shares during the period. Sassicaia Capital Advisers LLC bought a new position in Amazon.com during the 3rd quarter worth about $279,000. Howard Capital Management Group LLC lifted its holdings in shares of Amazon.com by 0.3% in the third quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant’s stock valued at $66,434,000 after purchasing an additional 897 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Amazon.com by 5.1% during the third quarter. Principal Financial Group Inc. now owns 20,166,314 shares of the e-commerce giant’s stock worth $3,757,589,000 after buying an additional 984,570 shares during the period. Finally, Whalen Wealth Management Inc. grew its holdings in shares of Amazon.com by 10.0% during the third quarter. Whalen Wealth Management Inc. now owns 22,296 shares of the e-commerce giant’s stock worth $4,154,000 after buying an additional 2,022 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMZN. Benchmark lifted their price objective on shares of Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Citizens Jmp decreased their price objective on Amazon.com from $285.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, April 14th. Telsey Advisory Group cut their price objective on Amazon.com from $275.00 to $235.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Oppenheimer decreased their price objective on shares of Amazon.com from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Truist Financial lowered their price target on Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.50.

Amazon.com Price Performance

Amazon.com stock opened at $187.39 on Wednesday. The stock has a fifty day moving average of $192.03 and a 200-day moving average of $207.90. The stock has a market capitalization of $1.99 trillion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares in the company, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,798 shares of company stock worth $23,341,803. Insiders own 10.80% of the company’s stock.

About Amazon.com

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.