CIBC Private Wealth Group LLC Has $2.38 Billion Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

CIBC Private Wealth Group LLC cut its holdings in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,695,476 shares of the e-commerce giant's stock after selling 337,815 shares during the quarter. Amazon.com comprises about 4.3% of CIBC Private Wealth Group LLC's investment portfolio, making the stock its 3rd biggest holding. CIBC Private Wealth Group LLC owned 0.10% of Amazon.com worth $2,375,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. State Street Corp boosted its stake in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC grew its position in Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Norges Bank acquired a new stake in Amazon.com during the 4th quarter valued at $27,266,582,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Amazon.com by 0.8% in the fourth quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant's stock worth $14,719,407,000 after buying an additional 545,292 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Down 0.2 %

Shares of NASDAQ:AMZN opened at $187.39 on Wednesday. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52. The firm has a market cap of $1.99 trillion, a P/E ratio of 33.89, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company's 50-day moving average price is $192.03 and its two-hundred day moving average price is $207.90.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction 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 directly owns 497,067 shares of the company's stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock valued at $23,341,803 over the last 90 days. 10.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMZN shares. Truist Financial reduced their price objective on Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Piper Sandler restated an "overweight" rating and set a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Wedbush reiterated an "outperform" rating and issued a $280.00 price objective on shares of Amazon.com in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Wolfe Research lifted their price objective on Amazon.com from $250.00 to $270.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. Based on data from MarketBeat, Amazon.com has a consensus rating of "Moderate Buy" and an average price target of $246.50.

Amazon.com 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.

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