Covestor Ltd Raises Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Covestor Ltd boosted its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,339 shares of the e-commerce giant’s stock after purchasing an additional 95 shares during the quarter. Amazon.com comprises about 0.6% of Covestor Ltd’s holdings, making the stock its 10th biggest position. Covestor Ltd’s holdings in Amazon.com were worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMZN. Meridian Investment Counsel Inc. grew its position in Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares in the last quarter. O Connor Financial Group LLC boosted its position in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after acquiring an additional 55 shares during the last quarter. Cherrydale Wealth Management LLC boosted its position in shares of Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after acquiring an additional 55 shares during the last quarter. Cedar Point Capital Partners LLC grew its holdings in shares of Amazon.com by 4.4% during the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after purchasing an additional 56 shares in the last quarter. Finally, Mason & Associates Inc lifted its position in Amazon.com by 0.4% during the second quarter. Mason & Associates Inc now owns 13,427 shares of the e-commerce giant’s stock valued at $2,595,000 after purchasing an additional 57 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

Amazon.com stock opened at $223.29 on Friday. Amazon.com, Inc. has a fifty-two week low of $144.05 and a fifty-two week high of $233.00. The stock has a market cap of $2.35 trillion, a price-to-earnings ratio of 47.81, a PEG ratio of 1.54 and a beta of 1.16. The stock’s 50 day simple moving average is $205.11 and its two-hundred day simple moving average is $190.98. 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 released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AMZN. Evercore ISI raised their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Benchmark raised their price target on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group upped their price objective on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday. Telsey Advisory Group raised their price objective on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Redburn Atlantic boosted their target price on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $242.00.

Insider Transactions at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872 in the last three months. 10.80% of the stock is currently owned by company insiders.

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.