Amazon.com Inc. (AMZN) Sees Large Volume Increase on Analyst Upgrade
Shares of Amazon.com Inc. (NASDAQ:AMZN) saw unusually-high trading volume on Thursday after Maxim Group raised their price target on the stock from $825.00 to $940.00. Maxim Group currently has a buy rating on the stock. Approximately 3,662,307 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 3,431,053 shares.The stock last traded at $824.99 and had previously closed at $828.72.
A number of other equities analysts have also weighed in on AMZN. MKM Partners upped their price target on shares of Amazon.com from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. Robert W. Baird began coverage on shares of Amazon.com in a research report on Tuesday, May 31st. They set a “buy” rating for the company. Vetr upgraded shares of Amazon.com from a “sell” rating to a “hold” rating and set a $700.67 target price for the company in a research report on Wednesday, June 1st. Sanford C. Bernstein restated a “buy” rating on shares of Amazon.com in a research report on Thursday, June 2nd. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Amazon.com in a research report on Saturday, June 4th. Six equities research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $881.13.
In related news, insider Jeffrey M. Blackburn sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $760.98, for a total value of $7,609,800.00. Following the completion of the transaction, the insider now directly owns 55,887 shares of the company’s stock, valued at $42,528,889.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew R. Jassy sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total value of $11,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 68,141 shares of the company’s stock, valued at $54,512,800. The disclosure for this sale can be found here. 17.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Pathstone Family Office LLC increased its position in shares of Amazon.com by 92.1% in the second quarter. Pathstone Family Office LLC now owns 146 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 70 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock worth $108,000 after buying an additional 136 shares during the period. Kings Point Capital Management acquired a new position in shares of Amazon.com during the second quarter worth about $109,000. Krilogy Financial LLC increased its position in shares of Amazon.com by 157.1% in the second quarter. Krilogy Financial LLC now owns 198 shares of the e-commerce giant’s stock worth $142,000 after buying an additional 121 shares during the period. Finally, West Oak Capital LLC increased its position in shares of Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock worth $155,000 after buying an additional 111 shares during the period. 65.44% of the stock is owned by hedge funds and other institutional investors.
The stock’s 50-day moving average price is $777.40 and its 200 day moving average price is $706.53. The firm has a market capitalization of $393.03 billion, a PE ratio of 206.18 and a beta of 1.11.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.67. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The company had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.54 billion. During the same period in the previous year, the business earned $0.19 EPS. Amazon.com’s revenue for the quarter was up 31.1% compared to the same quarter last year. On average, analysts anticipate that Amazon.com Inc. will post $5.82 EPS for the current fiscal year.
Amazon.com Company Profile
Amazon.com, Inc offers a range of products and services through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).
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