Traders Buy Amazon.com Inc. (AMZN) on Weakness
Investors purchased shares of Amazon.com Inc. (NASDAQ:AMZN) on weakness during trading hours on Thursday. $480.17 million flowed into the stock on the tick-up and $447.59 million flowed out of the stock on the tick-down, for a money net flow of $32.58 million into the stock. Of all companies tracked, Amazon.com had the 14th highest net in-flow for the day. Amazon.com traded down ($1.29) for the day and closed at $744.43
AMZN has been the topic of several recent research reports. Vetr raised shares of Amazon.com from a “hold” rating to a “buy” rating and set a $774.57 target price on the stock in a research note on Monday. Zacks Investment Research lowered shares of Amazon.com from a “buy” rating to a “hold” rating in a research note on Thursday. Goldman Sachs Group Inc. raised their target price on shares of Amazon.com from $790.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday. RBC Capital Markets reaffirmed an “outperform” rating and issued a $800.00 target price on shares of Amazon.com in a research note on Tuesday. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday, July 18th. Six investment analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $803.92.
The company has a market capitalization of $351.45 billion and a price-to-earnings ratio of 307.03. The company’s 50 day moving average price is $726.26 and its 200-day moving average price is $635.88.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, April 28th. The e-commerce giant reported $1.07 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.49. The company earned $29.10 million during the quarter, compared to analysts’ expectations of $27.97 million. During the same period last year, the firm earned ($0.12) earnings per share. Amazon.com’s revenue for the quarter was up 28.2% on a year-over-year basis. On average, equities research analysts anticipate that Amazon.com Inc. will post $5.40 earnings per share for the current fiscal year.
In other news, VP Shelley Reynolds sold 626 shares of Amazon.com stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $704.67, for a total value of $441,123.42. Following the sale, the vice president now directly owns 6,520 shares in the company, valued at approximately $4,594,448.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of Amazon.com stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $671.29, for a total value of $671,290,000.00. Following the completion of the sale, 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.
Other large investors have modified their holdings of the company. WESPAC Advisors LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth $1,105,000. Adirondack Trust Co. raised its stake 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 worth $1,163,000 after buying an additional 44 shares in the last quarter. Investors Capital Advisory Services raised its stake 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 worth $1,226,000 after buying an additional 251 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Amazon.com by 17.0% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,895 shares of the e-commerce giant’s stock worth $1,281,000 after buying an additional 275 shares in the last quarter. Finally, Davidson & Garrard Inc. raised its stake in shares of Amazon.com by 9.5% in the fourth quarter. Davidson & Garrard Inc. now owns 1,901 shares of the e-commerce giant’s stock worth $1,285,000 after buying an additional 165 shares in the last quarter.
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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