Investors Buy Shares of Amazon.com, Inc. (AMZN) on Weakness
Traders bought shares of Amazon.com, Inc. (NASDAQ:AMZN) on weakness during trading hours on Thursday. $1,085.51 million flowed into the stock on the tick-up and $912.18 million flowed out of the stock on the tick-down, for a money net flow of $173.33 million into the stock. Of all companies tracked, Amazon.com had the highest net in-flow for the day. Amazon.com traded down ($7.39) for the day and closed at $992.21
A number of equities research analysts recently weighed in on the company. UBS AG restated a “buy” rating and set a $1,100.00 price objective on shares of Amazon.com in a research report on Wednesday, June 21st. Cowen and Company restated an “outperform” rating and set a $1,125.00 price objective on shares of Amazon.com in a research report on Thursday, August 10th. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and set a $1,275.00 price objective on shares of Amazon.com in a research report on Wednesday, August 9th. Piper Jaffray Companies restated an “overweight” rating and set a $1,200.00 price objective on shares of Amazon.com in a research report on Thursday, August 10th. Finally, Barclays PLC restated an “overweight” rating and set a $1,150.00 price objective on shares of Amazon.com in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-six have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,094.66.
The stock has a 50 day moving average of $975.62 and a 200-day moving average of $949.38. The firm has a market cap of $474.03 billion, a P/E ratio of 250.96 and a beta of 1.47.
Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.40 by ($1.00). Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The firm had revenue of $37.96 billion during the quarter, compared to analysts’ expectations of $37.18 billion. During the same period last year, the company earned $1.78 earnings per share. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. Equities analysts predict that Amazon.com, Inc. will post $3.89 EPS for the current fiscal year.
In other Amazon.com news, CEO Jeffrey A. Wilke sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $955.20, for a total value of $2,674,560.00. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $9,552,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 544 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $986.52, for a total transaction of $536,666.88. Following the completion of the transaction, the vice president now owns 6,533 shares in the company, valued at $6,444,935.16. The disclosure for this sale can be found here. Insiders sold a total of 9,793 shares of company stock worth $9,574,377 over the last three months. 17.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of AMZN. TNB Financial bought a new position in Amazon.com in the 1st quarter worth about $10,575,000. Meritage Portfolio Management grew its stake in Amazon.com by 21.6% in the 1st quarter. Meritage Portfolio Management now owns 24,546 shares of the e-commerce giant’s stock worth $21,761,000 after acquiring an additional 4,368 shares in the last quarter. Edge Wealth Management LLC grew its stake in Amazon.com by 63.0% in the 1st quarter. Edge Wealth Management LLC now owns 2,195 shares of the e-commerce giant’s stock worth $1,951,000 after acquiring an additional 848 shares in the last quarter. Honkamp Krueger Financial Services Inc. grew its stake in Amazon.com by 9.3% in the 1st quarter. Honkamp Krueger Financial Services Inc. now owns 1,697 shares of the e-commerce giant’s stock worth $1,504,000 after acquiring an additional 145 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in Amazon.com by 11.1% in the 1st quarter. Private Trust Co. NA now owns 3,235 shares of the e-commerce giant’s stock worth $2,867,000 after acquiring an additional 323 shares in the last quarter. Institutional investors and hedge funds own 60.80% of the company’s stock.
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Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.
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