Vetr Inc. Downgrades Amazon.com Inc. (AMZN) to Hold
Amazon.com Inc. (NASDAQ:AMZN) was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued on Wednesday. They presently have a $854.95 price target on the e-commerce giant’s stock. Vetr‘s price target points to a potential upside of 3.12% from the company’s current price.
Other analysts also recently issued research reports about the stock. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Amazon.com in a report on Monday, June 13th. Sanford C. Bernstein reissued a “buy” rating on shares of Amazon.com in a report on Thursday, June 2nd. Robert W. Baird initiated coverage on shares of Amazon.com in a report on Tuesday, May 31st. They issued a “buy” rating for the company. MKM Partners boosted their target price on shares of Amazon.com from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, June 1st. Finally, Jefferies Group restated a “buy” rating on shares of Amazon.com in a research report on Saturday, June 4th. Six research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company’s stock. Amazon.com presently has an average rating of “Buy” and a consensus price target of $881.13.
Amazon.com (NASDAQ:AMZN) opened at 829.05 on Wednesday. Amazon.com has a 52-week low of $474.00 and a 52-week high of $837.50. The company has a 50-day moving average of $777.40 and a 200 day moving average of $706.53. The firm has a market cap of $393.03 billion, a price-to-earnings 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, beating the Zacks’ consensus estimate of $1.11 by $0.67. The firm earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. Amazon.com had a net margin of 1.60% and a return on equity of 13.52%. The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. On average, equities research analysts anticipate that Amazon.com will post $5.82 EPS for the current year.
In related news, CEO Andrew R. Jassy sold 14,000 shares of the 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 sale, the chief executive officer now directly owns 68,141 shares of the company’s stock, valued at approximately $54,512,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey M. Blackburn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $760.98, for a total transaction of $7,609,800.00. Following the completion of the sale, the insider now directly owns 55,887 shares of the company’s stock, valued at $42,528,889.26. The disclosure for this sale can be found here. 17.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in AMZN. LPL Financial LLC raised its stake in Amazon.com by 24.5% in the first quarter. LPL Financial LLC now owns 105,035 shares of the e-commerce giant’s stock valued at $61,567,000 after buying an additional 20,700 shares in the last quarter. Acadian Asset Management LLC increased its position in Amazon.com by 9.0% in the second quarter. Acadian Asset Management LLC now owns 117,216 shares of the e-commerce giant’s stock valued at $83,882,000 after buying an additional 9,640 shares during the last quarter. Prudential PLC increased its position in Amazon.com by 5.7% in the first quarter. Prudential PLC now owns 105,738 shares of the e-commerce giant’s stock valued at $62,771,000 after buying an additional 5,657 shares during the last quarter. Suvretta Capital Management LLC acquired a new position in Amazon.com during the first quarter valued at $147,407,000. Finally, British Columbia Investment Management Corp increased its position in Amazon.com by 1.3% in the second quarter. British Columbia Investment Management Corp now owns 204,723 shares of the e-commerce giant’s stock valued at $146,504,000 after buying an additional 2,602 shares during the last quarter. 65.44% of the stock is owned by institutional investors.
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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