Covea Finance Sells 107,085 Shares of Amazon.com, Inc. $AMZN

Key Points

• Covea Finance has reduced its stake in Amazon.com, selling 107,085 shares and owning now 365,599 shares, which represent about 3.0% of its portfolio.
• Several institutional investors have recently adjusted their positions in Amazon, with Vanguard Group increasing its holdings by 1.1% and Kingstone Capital showing a massive increase of over 542,733% in their stake.
• Amazon.com reported earnings of $1.68 per share for the last quarter, exceeding expectations, and the company had a revenue of $167.70 billion, up 13.3% year-over-year.

Covea Finance trimmed its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 22.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 365,599 shares of the e-commerce giant's stock after selling 107,085 shares during the period. Amazon.com makes up about 3.0% of Covea Finance's investment portfolio, making the stock its 5th biggest position. Covea Finance's holdings in Amazon.com were worth $80,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AMZN. Vanguard Group Inc. lifted its holdings in Amazon.com by 1.1% in the first quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant's stock valued at $158,348,557,000 after buying an additional 8,913,959 shares during the period. Kingstone Capital Partners Texas LLC lifted its holdings in Amazon.com by 542,733.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant's stock valued at $29,100,194,000 after buying an additional 132,616,953 shares during the period. Northern Trust Corp lifted its holdings in Amazon.com by 0.3% in the first quarter. Northern Trust Corp now owns 97,379,134 shares of the e-commerce giant's stock valued at $18,527,354,000 after buying an additional 302,858 shares during the period. Nuveen LLC acquired a new position in Amazon.com in the first quarter valued at approximately $11,674,091,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Amazon.com by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 60,243,622 shares of the e-commerce giant's stock valued at $11,461,952,000 after buying an additional 605,415 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on AMZN. Jefferies Financial Group reissued a "buy" rating on shares of Amazon.com in a research note on Thursday, September 11th. Cantor Fitzgerald increased their target price on Amazon.com from $260.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group reiterated a "buy" rating and issued a $271.00 target price (up from $249.00) on shares of Amazon.com in a report on Monday, July 28th. Morgan Stanley reiterated an "overweight" rating on shares of Amazon.com in a report on Wednesday, September 10th. Finally, BNP Paribas Exane upgraded shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 target price on the stock in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Amazon.com has an average rating of "Buy" and a consensus target price of $265.09.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company's stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 20,842,622 shares of company stock worth $4,731,205,179. 9.70% of the stock is owned by insiders.

Amazon.com Stock Up 0.8%

Shares of Amazon.com stock opened at $222.41 on Friday. The business's 50 day simple moving average is $226.79 and its 200 day simple moving average is $210.83. Amazon.com, Inc. has a 52-week low of $161.38 and a 52-week high of $242.52. The firm has a market cap of $2.37 trillion, a PE ratio of 33.90, a P/E/G ratio of 1.47 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 1.02.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. The firm had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The business's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. Amazon.com has set its Q3 2025 guidance at EPS. On average, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.