Covea Finance Cuts Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Covea Finance reduced its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 495,258 shares of the e-commerce giant’s stock after selling 11,431 shares during the quarter. Amazon.com accounts for 4.0% of Covea Finance’s portfolio, making the stock its 3rd largest position. Covea Finance’s holdings in Amazon.com were worth $92,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. OMNI 360 Wealth Inc. raised its holdings in shares of Amazon.com by 8.3% in the 1st quarter. OMNI 360 Wealth Inc. now owns 3,255 shares of the e-commerce giant’s stock valued at $587,000 after purchasing an additional 249 shares during the period. Valley National Advisers Inc. raised its holdings in shares of Amazon.com by 2.0% in the 1st quarter. Valley National Advisers Inc. now owns 47,296 shares of the e-commerce giant’s stock valued at $8,531,000 after purchasing an additional 918 shares during the period. Lake Street Private Wealth LLC raised its holdings in shares of Amazon.com by 5.0% in the 1st quarter. Lake Street Private Wealth LLC now owns 83,009 shares of the e-commerce giant’s stock valued at $14,973,000 after purchasing an additional 3,987 shares during the period. United Capital Management of KS Inc. raised its holdings in shares of Amazon.com by 3.9% in the 1st quarter. United Capital Management of KS Inc. now owns 85,129 shares of the e-commerce giant’s stock valued at $15,356,000 after purchasing an additional 3,231 shares during the period. Finally, Red Tortoise LLC raised its holdings in shares of Amazon.com by 2.2% in the 1st quarter. Red Tortoise LLC now owns 4,249 shares of the e-commerce giant’s stock valued at $766,000 after purchasing an additional 92 shares during the period. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,859 shares of company stock valued at $10,215,097 over the last quarter. Insiders own 10.80% of the company’s stock.

Amazon.com Price Performance

AMZN stock opened at $208.18 on Friday. Amazon.com, Inc. has a 52-week low of $139.52 and a 52-week high of $212.25. The company has a fifty day moving average price of $187.83 and a 200-day moving average price of $184.62. The company has a market capitalization of $2.19 trillion, a P/E ratio of 44.58, a PEG ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the firm earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities analysts expect that Amazon.com, Inc. will post 5.24 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMZN. Benchmark upped their target price on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Susquehanna increased their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a report on Friday, November 1st. Truist Financial increased their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group increased their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group increased their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.55.

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.