Investment Firm JCIC Asset Management Inc. Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)
Are you interested in learning more about the recent changes in institutional investor holdings of Amazon.com, Inc. (NASDAQ:AMZN)? JCIC Asset Management Inc. recently reduced its stake in the e-commerce giant, selling 805 shares during the 1st quarter. Despite this reduction, Amazon.com still makes up a significant portion of JCIC Asset Management Inc.’s holdings, ranking as their 5th largest position.
Other institutional investors and hedge funds have also made adjustments to their positions in Amazon.com. Roof Eidam Maycock Peralta LLC, Insight Advisors LLC PA, Howard Wealth Management LLC, Spectrum Investment Advisors Inc., and Mystic Asset Management Inc. all saw changes in their holdings during the 1st quarter.
In terms of stock performance, Amazon.com’s shares opened at $182.50 on Friday, with a market capitalization of $1.90 trillion. The company’s recent quarterly earnings report exceeded analysts’ expectations, with a return on equity of 19.86% and a net margin of 6.38%. Analysts have set new price targets for AMZN, with a consensus rating of “Buy” and a consensus target price of $220.04.
Insider activity has also been notable, with insider Jeffrey P. Bezos selling a significant number of shares in July. The company’s CEO, Douglas J. Herrington, also sold shares in May. In the last three months, insiders have sold over 6 million shares of Amazon.com stock.
Amazon.com, Inc. engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores. The company operates in North America, internationally, and through Amazon Web Services (AWS). They also manufacture and sell electronic devices and develop media content.
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