Amazon.com Inc. (AMZN) Shares Gap Up to $759.48
Amazon.com Inc. (NASDAQ:AMZN) shares gapped up prior to trading on Tuesday . The stock had previously closed at $758.33, but opened at $759.48. Amazon.com shares last traded at $761.97, with a volume of 880,740 shares changing hands.
AMZN has been the subject of several research analyst reports. Oppenheimer Holdings Inc. set a $780.00 price target on shares of Amazon.com and gave the company a “buy” rating in a report on Monday, May 9th. Goldman Sachs Group Inc. upped their price target on shares of Amazon.com from $720.00 to $800.00 and gave the company a “buy” rating in a report on Friday, April 29th. Axiom Securities upped their price target on shares of Amazon.com from $797.00 to $811.00 and gave the company a “buy” rating in a report on Friday, April 29th. Credit Suisse Group AG reduced their price target on shares of Amazon.com in a report on Tuesday, May 10th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Amazon.com in a report on Sunday, August 14th. 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 stock. The company has a consensus rating of “Buy” and an average target price of $852.39.
The firm has a market capitalization of $359.48 billion and a P/E ratio of 188.58. The company has a 50-day moving average of $753.63 and a 200 day moving average of $664.65.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 EPS for the quarter, beating the consensus estimate of $1.11 by $0.67. The business had revenue of $30.40 billion for the quarter, compared to analysts’ expectations of $29.54 billion. During the same period last year, the business earned $0.19 earnings per share. The company’s quarterly revenue was up 31.1% on a year-over-year basis. On average, equities research analysts forecast that Amazon.com Inc. will post $5.76 EPS for the current fiscal year.
In related news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $756.74, for a total transaction of $756,740,000.00. Following the sale, the chief executive officer now directly owns 81,871,067 shares of the company’s stock, valued at $61,955,111,241.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patricia Q. Stonesifer sold 6,250 shares of the stock in a transaction 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 sale, the director now directly owns 13,867 shares in the company, valued at $10,071,186.09. The disclosure for this sale can be found here.
Several large investors have added to or reduced their stakes in AMZN. Dimensional Fund Advisors LP boosted its stake in Amazon.com by 18.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 758,695 shares of the e-commerce giant’s stock valued at $512,871,000 after buying an additional 115,990 shares during the period. Rovida Advisors Inc. acquired a new stake in Amazon.com during the fourth quarter valued at approximately $42,376,000. Oakmont Corp acquired a new stake in Amazon.com during the fourth quarter valued at approximately $34,085,000. Schwab Charles Investment Management Inc. boosted its stake in Amazon.com by 4.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,045,154 shares of the e-commerce giant’s stock valued at $706,410,000 after buying an additional 45,740 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Amazon.com by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 629,170 shares of the e-commerce giant’s stock valued at $425,250,000 after buying an additional 41,897 shares during the period.
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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