Amazon.com, Inc. (NASDAQ:AMZN) is Covea Finance’s 3rd Largest Position

Covea Finance grew its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 472,684 shares of the e-commerce giant’s stock after buying an additional 2,286 shares during the quarter. Amazon.com accounts for 4.1% of Covea Finance’s portfolio, making the stock its 3rd largest position. Covea Finance’s holdings in Amazon.com were worth $89,933,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AMZN. Vanguard Group Inc. lifted its position in shares of Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after buying an additional 17,635,391 shares in the last quarter. FMR LLC boosted its holdings in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after purchasing an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC grew its holdings in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after buying an additional 5,015,380 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after purchasing an additional 4,087,933 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter valued at about $27,266,582,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AMZN shares. Rosenblatt Securities lifted their price objective on shares of Amazon.com from $287.00 to $288.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. BNP Paribas Exane raised Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price target on the stock in a research report on Friday, June 27th. The Goldman Sachs Group reduced their price objective on shares of Amazon.com from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Benchmark reaffirmed a “buy” rating and issued a $260.00 price target on shares of Amazon.com in a report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $235.00 price objective on shares of Amazon.com and gave the company an “outperform” rating in a research report on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.41.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the completion of the sale, the chief executive officer directly owned 514,550 shares of the company’s stock, valued at approximately $113,231,873. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,046,582 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $223.92, for a total transaction of $458,270,641.44. Following the sale, the insider owned 902,480,530 shares in the company, valued at $202,083,440,277.60. This trade represents a 0.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,401,408 shares of company stock valued at $1,423,159,137. 9.70% of the stock is currently owned by company insiders.

Amazon.com Trading Up 1.4%

AMZN stock opened at $222.54 on Thursday. The business’s 50-day moving average is $208.56 and its 200 day moving average is $208.68. The stock has a market cap of $2.36 trillion, a price-to-earnings ratio of 36.24, a PEG ratio of 1.65 and a beta of 1.33. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. Amazon.com’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.