Investors Buy Shares of Amazon.com Inc. (AMZN) on Weakness
Traders purchased shares of Amazon.com Inc. (NASDAQ:AMZN) on weakness during trading on Wednesday. $704.83 million flowed into the stock on the tick-up and $642.53 million flowed out of the stock on the tick-down, for a money net flow of $62.30 million into the stock. Of all companies tracked, Amazon.com had the 7th highest net in-flow for the day. Amazon.com traded down ($5.94) for the day and closed at $754.64
A number of equities analysts recently issued reports on the company. Vetr upgraded Amazon.com from a “hold” rating to a “buy” rating and set a $800.28 target price for the company in a research note on Tuesday. MKM Partners raised their target price on Amazon.com from $850.00 to $995.00 and gave the stock a “buy” rating in a research note on Tuesday. Argus restated a “hold” rating on shares of Amazon.com in a research note on Monday. Cantor Fitzgerald set a $835.00 target price on Amazon.com and gave the stock a “buy” rating in a research note on Monday. Finally, Pacific Crest raised their target price on Amazon.com from $820.00 to $847.00 and gave the stock an “overweight” rating in a research note on Monday. Seven investment analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $851.24.
The company has a market cap of $357.75 billion and a P/E ratio of 187.67. The firm has a 50-day moving average of $732.64 and a 200 day moving average of $644.43.
Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.67. The company had revenue of $30.40 billion for the quarter, compared to analyst estimates of $29.54 billion. During the same period in the prior year, the business earned $0.19 earnings per share. Amazon.com’s revenue was up 31.1% on a year-over-year basis. Equities research analysts anticipate that Amazon.com Inc. will post $5.73 EPS for the current fiscal year.
In other Amazon.com news, CEO Andrew R. Jassy sold 2,305 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $703.73, for a total transaction of $1,622,097.65. Following the completion of the transaction, the chief executive officer now directly owns 81,262 shares of the company’s stock, valued at approximately $57,186,507.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 82,839,882 shares of the company’s stock, valued at $55,609,584,387.78. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in AMZN. 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. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in 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 valued at $1,281,000 after buying an additional 275 shares during the period. Davidson & Garrard Inc. raised its position in Amazon.com by 9.5% in the fourth quarter. Davidson & Garrard Inc. now owns 1,901 shares of the e-commerce giant’s stock valued at $1,285,000 after buying an additional 165 shares during the period. Adirondack Trust Co. raised 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. Finally, Mandatum Life Insurance Co Ltd acquired a new position in Amazon.com during the fourth quarter valued at approximately $1,354,000.
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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