Amazon.com’s (AMZN) “Buy” Rating Reiterated at Credit Suisse Group
Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating restated by equities researchers at Credit Suisse Group in a report released on Monday.
Several other research firms have also commented on AMZN. Morgan Stanley reiterated a “buy” rating on shares of Amazon.com in a research note on Tuesday, July 17th. Morningstar reiterated a “buy” rating on shares of Amazon.com in a research note on Thursday, October 11th. Barclays reiterated a “buy” rating and set a $1,870.00 price objective on shares of Amazon.com in a research note on Friday, July 27th. Jefferies Financial Group reiterated a “buy” rating on shares of Amazon.com in a research note on Monday, October 1st. Finally, Cowen boosted their price objective on shares of Amazon.com from $2,000.00 to $2,100.00 and gave the stock an “outperform” rating in a research note on Friday, July 13th. Four research analysts have rated the stock with a hold rating and forty-eight have issued a buy rating to the stock. Amazon.com currently has an average rating of “Buy” and an average price target of $2,083.06.
NASDAQ AMZN opened at $1,642.81 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.07 and a quick ratio of 0.78. The company has a market cap of $801.27 billion, a P/E ratio of 361.06, a PEG ratio of 3.43 and a beta of 1.58. Amazon.com has a 52 week low of $1,050.55 and a 52 week high of $2,050.50.
In other news, insider Jeffrey M. Blackburn sold 4,108 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $1,952.10, for a total value of $8,019,226.80. Following the sale, the insider now owns 42,874 shares in the company, valued at $83,694,335.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas O. Ryder sold 5,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $1,783.81, for a total transaction of $8,919,050.00. Following the completion of the sale, the director now owns 10,752 shares in the company, valued at approximately $19,179,525.12. The disclosure for this sale can be found here. Insiders sold 25,308 shares of company stock worth $47,905,498 in the last quarter. Company insiders own 16.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in AMZN. Guidant Wealth Advisors boosted its holdings in Amazon.com by 657.4% during the second quarter. Guidant Wealth Advisors now owns 409 shares of the e-commerce giant’s stock worth $100,000 after buying an additional 355 shares in the last quarter. Spirit of America Management Corp NY purchased a new stake in Amazon.com during the third quarter worth $110,000. Lee Financial Co boosted its holdings in Amazon.com by 154.3% during the first quarter. Lee Financial Co now owns 89 shares of the e-commerce giant’s stock worth $129,000 after buying an additional 54 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in Amazon.com during the first quarter worth $145,000. Finally, Taylor Hoffman Wealth Management boosted its holdings in Amazon.com by 192.3% during the third quarter. Taylor Hoffman Wealth Management now owns 76 shares of the e-commerce giant’s stock worth $152,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 57.15% of the company’s stock.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.
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