Investors Buy Amazon.com Inc. (AMZN) on Weakness
Traders purchased shares of Amazon.com Inc. (NASDAQ:AMZN) on weakness during trading hours on Friday. $756.75 million flowed into the stock on the tick-up and $536.96 million flowed out of the stock on the tick-down, for a money net flow of $219.79 million into the stock. Of all equities tracked, Amazon.com had the 4th highest net in-flow for the day. Amazon.com traded down ($5.76) for the day and closed at $735.44
Several brokerages have issued reports on AMZN. Oppenheimer Holdings Inc. set a $780.00 price target on Amazon.com and gave the stock a “buy” rating in a research note on Monday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $700.00 price target on shares of Amazon.com in a research note on Tuesday, April 19th. Bank of America Corp. reaffirmed a “buy” rating and set a $750.00 price target on shares of Amazon.com in a research note on Monday, April 11th. Jefferies Group reaffirmed a “buy” rating and set a $775.00 price target on shares of Amazon.com in a research note on Friday, April 1st. Finally, Goldman Sachs Group Inc. lifted their price target on Amazon.com from $720.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, April 29th. Seven investment analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $799.90.
The stock has a market cap of $347.00 billion and a price-to-earnings ratio of 303.15. The stock has a 50-day moving average of $723.25 and a 200-day moving average of $633.13.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, April 28th. The e-commerce giant reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.49. The firm earned $29.10 million during the quarter, compared to analyst estimates of $27.97 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, equities research analysts anticipate that Amazon.com Inc. will post $5.40 EPS for the current fiscal year.
In other news, Director Patricia Q. Stonesifer sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $726.27, for a total value of $4,539,187.50. Following the transaction, the director now directly owns 13,867 shares in the company, valued at approximately $10,071,186.09. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $671.29, for a total transaction of $671,290,000.00. Following the completion of the transaction, the chief executive officer now owns 82,839,882 shares in the company, valued at $55,609,584,387.78. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of AMZN. ZWJ Investment Counsel Inc. raised its position in shares of Amazon.com by 1.1% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 1,628 shares of the e-commerce giant’s stock valued at $1,100,000 after buying an additional 18 shares in the last quarter. WESPAC Advisors LLC bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $1,105,000. Adirondack Trust Co. raised its position in shares of Amazon.com by 2.3% in the fourth quarter. Adirondack Trust Co. now owns 1,982 shares of the e-commerce giant’s stock valued at $1,163,000 after buying an additional 44 shares in the last quarter. Investors Capital Advisory Services raised its position in shares of Amazon.com by 16.0% in the fourth quarter. Investors Capital Advisory Services now owns 1,815 shares of the e-commerce giant’s stock valued at $1,226,000 after buying an additional 251 shares in the last quarter. Finally, Seven Bridges Advisors LLC bought a new position in shares of Amazon.com during the fourth quarter valued at approximately $1,256,000.
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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