New Covenant Trust Company N.A. Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

New Covenant Trust Company N.A. cut its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,441 shares of the e-commerce giant’s stock after selling 463 shares during the quarter. Amazon.com makes up 2.1% of New Covenant Trust Company N.A.’s investment portfolio, making the stock its 14th largest position. New Covenant Trust Company N.A.’s holdings in Amazon.com were worth $1,912,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Amazon.com during the fourth quarter worth approximately $17,700,551,000. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Swedbank AB acquired a new position in shares of Amazon.com during the 1st quarter valued at $2,239,757,000. Capital World Investors boosted its position in shares of Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the period. Finally, Capital Research Global Investors grew its holdings in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on AMZN shares. Sanford C. Bernstein upped their price target on shares of Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. JMP Securities upped their price objective on Amazon.com from $245.00 to $265.00 and gave the stock a “market outperform” rating in a research note on Tuesday, September 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday. Evercore ISI lifted their price objective on shares of Amazon.com from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group dropped their price objective on Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and a consensus target price of $222.84.

Insider Activity

In related news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders sold 6,099,607 shares of company stock valued at $1,219,702,872 over the last quarter. 10.80% of the stock is owned by company insiders.

Amazon.com Stock Performance

Amazon.com stock opened at $192.53 on Thursday. The business’s 50-day moving average price is $178.59 and its two-hundred day moving average price is $182.35. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market cap of $2.02 trillion, a PE ratio of 53.93, a P/E/G ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. As a group, analysts expect that Amazon.com, Inc. will post 4.86 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.