Covey Capital Advisors LLC Cuts Position in Amazon.com, Inc. (NASDAQ:AMZN)

Covey Capital Advisors LLC lessened its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,269 shares of the e-commerce giant’s stock after selling 687 shares during the quarter. Amazon.com accounts for approximately 3.8% of Covey Capital Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Covey Capital Advisors LLC’s holdings in Amazon.com were worth $3,404,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. PayPay Securities Corp lifted its position in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com in the third quarter worth $45,000. Christopher J. Hasenberg Inc lifted its position in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in Amazon.com during the third quarter worth $56,000. Institutional investors own 72.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of several analyst reports. Maxim Group upped their price target on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Scotiabank upped their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. Morgan Stanley upped their price target on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. DA Davidson reaffirmed a “buy” rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday, October 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Amazon.com Trading Up 0.0 %

AMZN opened at $222.13 on Thursday. Amazon.com, Inc. has a twelve month low of $148.21 and a twelve month high of $233.00. The company has a 50-day simple moving average of $215.07 and a 200 day simple moving average of $194.92. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. Analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the transaction, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by insiders.

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.