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

Covenant Partners LLC lowered its position in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,409 shares of the e-commerce giant's stock after selling 1,650 shares during the period. Amazon.com comprises about 1.0% of Covenant Partners LLC's investment portfolio, making the stock its 13th biggest holding. Covenant Partners LLC's holdings in Amazon.com were worth $3,161,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC lifted its position in shares of Amazon.com by 0.7% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 45,153 shares of the e-commerce giant's stock worth $9,906,000 after purchasing an additional 318 shares during the period. RMR Wealth Builders lifted its position in shares of Amazon.com by 2.5% in the 4th quarter. RMR Wealth Builders now owns 70,423 shares of the e-commerce giant's stock worth $15,450,000 after purchasing an additional 1,690 shares during the period. Peddock Capital Advisors LLC lifted its position in shares of Amazon.com by 2.8% in the 4th quarter. Peddock Capital Advisors LLC now owns 16,850 shares of the e-commerce giant's stock worth $3,697,000 after purchasing an additional 466 shares during the period. Marion Wealth Management lifted its position in shares of Amazon.com by 177.2% in the 4th quarter. Marion Wealth Management now owns 14,096 shares of the e-commerce giant's stock worth $3,093,000 after purchasing an additional 9,011 shares during the period. Finally, PFW Advisors LLC purchased a new stake in shares of Amazon.com in the 4th quarter worth about $1,348,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Performance

Shares of AMZN stock opened at $200.99 on Friday. The company has a 50 day moving average price of $190.05 and a 200-day moving average price of $208.81. Amazon.com, Inc. has a 52 week low of $151.61 and a 52 week high of $242.52. The firm has a market capitalization of $2.13 trillion, a PE ratio of 36.35, a P/E/G ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 earnings per share. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Truist Financial dropped their target price on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. DA Davidson lowered their price target on shares of Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Citizens Jmp lowered their price target on shares of Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Jefferies Financial Group lowered their price target on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group lowered their price target on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $244.09.

Insider Activity at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at approximately $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 19,212 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $217.50, for a total transaction of $4,178,610.00. Following the sale, the senior vice president now owns 49,950 shares of the company's stock, valued at $10,864,125. This trade represents a 27.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,749 shares of company stock worth $24,197,235. 9.70% of the stock is owned by company insiders.

About Amazon.com

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.