Investors Buy Shares of Amazon.com Inc. (AMZN) on Weakness on Analyst Downgrade
Investors bought shares of Amazon.com Inc. (NASDAQ:AMZN) on weakness during trading hours on Tuesday after Citigroup lowered their price target on the stock from $965.00 to $960.00. $845.28 million flowed into the stock on the tick-up and $622.05 million flowed out of the stock on the tick-down, for a money net flow of $223.23 million into the stock. Of all companies tracked, Amazon.com had the highest net in-flow for the day. Amazon.com traded down ($4.25) for the day and closed at $762.52
A number of other equities research analysts also recently weighed in on AMZN. Goldman Sachs Group Inc. reissued a “buy” rating and set a $920.00 target price on shares of Amazon.com in a report on Thursday, September 8th. Mizuho reissued a “buy” rating and set a $950.00 target price on shares of Amazon.com in a report on Thursday, October 13th. Evercore ISI reissued a “buy” rating and set a $1,015.00 target price (up previously from $930.00) on shares of Amazon.com in a report on Friday, September 16th. Vetr raised Amazon.com from a “hold” rating to a “buy” rating and set a $880.16 target price for the company in a report on Thursday, October 6th. Finally, Atlantic Securities set a $980.00 target price on Amazon.com and gave the stock a “buy” rating in a report on Friday, October 28th. Six equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Amazon.com has a consensus rating of “Buy” and an average price target of $911.75.
In related news, CEO Andrew R. Jassy sold 14,000 shares of Amazon.com stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the transaction, the chief executive officer now directly owns 68,141 shares in the company, valued at $54,512,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.70% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC increased its position in Amazon.com by 18.9% in the third quarter. SevenBridge Financial Group LLC now owns 662 shares of the e-commerce giant’s stock valued at $549,000 after buying an additional 105 shares during the period. First Heartland Consultants Inc. increased its position in Amazon.com by 8.2% in the third quarter. First Heartland Consultants Inc. now owns 1,048 shares of the e-commerce giant’s stock valued at $877,000 after buying an additional 79 shares during the period. Monroe Bank & Trust MI increased its position in Amazon.com by 31.4% in the third quarter. Monroe Bank & Trust MI now owns 577 shares of the e-commerce giant’s stock valued at $456,000 after buying an additional 138 shares during the period. RWC Asset Management LLP increased its position in Amazon.com by 15.6% in the third quarter. RWC Asset Management LLP now owns 71,332 shares of the e-commerce giant’s stock valued at $59,727,000 after buying an additional 9,652 shares during the period. Finally, ETRADE Capital Management LLC increased its position in Amazon.com by 17.2% in the third quarter. ETRADE Capital Management LLC now owns 7,195 shares of the e-commerce giant’s stock valued at $6,025,000 after buying an additional 1,054 shares during the period. Institutional investors own 64.77% of the company’s stock.
The company has a market cap of $362.32 billion, a P/E ratio of 174.69 and a beta of 1.51. The firm’s 50-day moving average is $789.54 and its 200-day moving average is $761.26.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 27th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by $0.28. The company had revenue of $32.71 billion for the quarter, compared to analysts’ expectations of $32.69 billion. Amazon.com had a return on equity of 13.47% and a net margin of 1.64%. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. Analysts anticipate that Amazon.com Inc. will post $4.78 EPS for the current fiscal year.
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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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