Investors Buy Amazon.com Inc. (AMZN) on Weakness
Investors purchased shares of Amazon.com Inc. (NASDAQ:AMZN) on weakness during trading hours on Thursday. $546.62 million flowed into the stock on the tick-up and $485.53 million flowed out of the stock on the tick-down, for a money net flow of $61.09 million into the stock. Of all equities tracked, Amazon.com had the 3rd highest net in-flow for the day. Amazon.com traded down ($1.43) for the day and closed at $741.20
A number of research analysts have issued reports on the company. JPMorgan Chase & Co. set a $908.00 price target on Amazon.com and gave the company a “buy” rating in a report on Tuesday. Piper Jaffray Cos. reissued a “buy” rating and issued a $800.00 price target on shares of Amazon.com in a report on Friday, July 8th. Cantor Fitzgerald reissued a “buy” rating and issued a $800.00 price target on shares of Amazon.com in a report on Tuesday, July 5th. Vetr raised Amazon.com from a “hold” rating to a “buy” rating and set a $744.13 price target for the company in a report on Monday, June 20th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $800.00 price target on shares of Amazon.com in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $799.90.
The firm has a market cap of $349.72 billion and a price-to-earnings ratio of 305.52. The company has a 50-day moving average of $722.65 and a 200-day moving average of $632.69.
Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, April 28th. The e-commerce giant reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.49. The firm earned $29.10 million during the quarter, compared to the consensus estimate of $27.97 million. The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS. On average, equities analysts forecast that Amazon.com Inc. will post $5.40 EPS for the current year.
In other news, Director Thomas O. Ryder sold 4,000 shares of Amazon.com stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $707.66, for a total value of $2,830,640.00. Following the completion of the transaction, the director now owns 20,453 shares in the company, valued at $14,473,769.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patricia Q. Stonesifer sold 6,250 shares of Amazon.com stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $726.27, for a total transaction of $4,539,187.50. Following the completion of the transaction, the director now owns 13,867 shares of the company’s stock, valued at approximately $10,071,186.09. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of AMZN. ZWJ Investment Counsel Inc. boosted its position in 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 worth $1,100,000 after buying an additional 18 shares during the period. WESPAC Advisors LLC bought a new position in Amazon.com during the fourth quarter valued at $1,105,000. Adirondack Trust Co. boosted its position in 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 during the period. Investors Capital Advisory Services boosted its position in 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 during the period. Finally, Seven Bridges Advisors LLC bought a new position in Amazon.com during the fourth quarter valued at $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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