Covenant Partners LLC Reduces Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Covenant Partners LLC lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,011 shares of the e-commerce giant’s stock after selling 116 shares during the period. Amazon.com makes up approximately 1.3% of Covenant Partners LLC’s investment portfolio, making the stock its 11th largest holding. Covenant Partners LLC’s holdings in Amazon.com were worth $2,789,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMZN. Advisor Group Holdings Inc. purchased a new stake in Amazon.com in the first quarter valued at approximately $294,639,000. Alliancebernstein L.P. boosted its position in Amazon.com by 83.0% in the 1st quarter. Alliancebernstein L.P. now owns 1,752,984 shares of the e-commerce giant’s stock worth $3,417,828,000 after purchasing an additional 795,171 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Amazon.com by 18.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,516,147 shares of the e-commerce giant’s stock worth $12,459,236,000 after purchasing an additional 704,255 shares in the last quarter. Wellington Management Group LLP boosted its position in Amazon.com by 26.1% in the 1st quarter. Wellington Management Group LLP now owns 2,721,098 shares of the e-commerce giant’s stock worth $5,305,379,000 after purchasing an additional 563,991 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in Amazon.com by 10.7% in the 1st quarter. Capital Research Global Investors now owns 4,501,995 shares of the e-commerce giant’s stock worth $8,777,634,000 after purchasing an additional 435,331 shares in the last quarter. Hedge funds and other institutional investors own 57.32% of the company’s stock.

NASDAQ AMZN opened at $3,160.83 on Wednesday. The stock has a market cap of $1,580.87 billion, a PE ratio of 121.34, a P/E/G ratio of 3.23 and a beta of 1.32. The company has a current ratio of 1.18, a quick ratio of 0.97 and a debt-to-equity ratio of 0.45. Amazon.com, Inc. has a twelve month low of $1,626.03 and a twelve month high of $3,552.25. The stock has a fifty day simple moving average of $3,230.98 and a 200-day simple moving average of $2,603.18.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, July 30th. The e-commerce giant reported $10.30 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $8.56. Amazon.com had a return on equity of 20.47% and a net margin of 4.10%. The company had revenue of $88.91 billion during the quarter, compared to analysts’ expectations of $81.56 billion. Research analysts predict that Amazon.com, Inc. will post 31.92 EPS for the current year.

Several research firms have commented on AMZN. Citigroup upped their price objective on Amazon.com from $2,700.00 to $3,550.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Loop Capital upped their price objective on Amazon.com from $2,900.00 to $3,775.00 in a research report on Monday, August 10th. Edward Jones restated a “buy” rating on shares of Amazon.com in a research report on Friday, July 31st. Telsey Advisory Group upped their target price on Amazon.com from $3,600.00 to $4,000.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday, August 3rd. Six analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $3,291.50.

In related news, CEO Jeffrey A. Wilke sold 750 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $3,304.28, for a total transaction of $2,478,210.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $33,042,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Indra K. Nooyi bought 27 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were purchased at an average price of $2,806.80 per share, with a total value of $75,783.60. Following the completion of the acquisition, the director now directly owns 707 shares in the company, valued at $1,984,407.60. The disclosure for this purchase can be found here. Insiders have sold a total of 102,815 shares of company stock valued at $324,095,003 over the last 90 days. 16.10% of the stock is currently owned by company insiders.

Amazon.com Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from third-party sellers through physical stores and online stores.

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Institutional Ownership by Quarter for Amazon.com (NASDAQ:AMZN)

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