Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Cove Private Wealth LLC

Cove Private Wealth LLC reduced its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 27,242 shares of the e-commerce giant’s stock after selling 405 shares during the quarter. Amazon.com accounts for 4.2% of Cove Private Wealth LLC’s holdings, making the stock its 4th largest holding. Cove Private Wealth LLC’s holdings in Amazon.com were worth $5,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Collective Family Office LLC raised its position in shares of Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after buying an additional 819 shares during the period. Phillips Wealth Planners LLC raised its holdings in shares of Amazon.com by 9.2% in the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after purchasing an additional 224 shares during the period. Bayesian Capital Management LP acquired a new position in shares of Amazon.com in the 4th quarter valued at about $5,926,000. Clearstead Trust LLC grew its holdings in shares of Amazon.com by 25.8% during the 4th quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock worth $9,958,000 after purchasing an additional 13,454 shares during the period. Finally, Summa Corp. acquired a new stake in Amazon.com during the 4th quarter worth approximately $1,506,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the transaction, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at approximately $101,866,390.47. The disclosure for this sale can be found here. Insiders sold 6,104,317 shares of company stock valued at $1,220,621,322 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Amazon.com Price Performance

Shares of NASDAQ:AMZN opened at $186.49 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $179.51 and its two-hundred day moving average is $181.56. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 52.24, a PEG ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The firm had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMZN shares. Barclays boosted their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Rosenblatt Securities upped their price target on shares of Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective on the stock. in a research report on Friday, August 2nd. Jefferies Financial Group decreased their target price on Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Tigress Financial raised their target price on Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, forty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $222.49.

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.