Douglas Herrington Sells 1,000 Shares of Amazon.com (NASDAQ:AMZN) Stock

Amazon.com, Inc. (NASDAQ:AMZN) CEO Douglas Herrington sold 1,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $239.77, for a total value of $239,770.00. Following the sale, the chief executive officer owned 484,527 shares of the company’s stock, valued at approximately $116,175,038.79. This represents a 0.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amazon.com Stock Up 0.4%

Shares of Amazon.com stock traded up $0.97 during trading on Thursday, reaching $242.67. The company’s stock had a trading volume of 47,219,428 shares, compared to its average volume of 50,787,027. Amazon.com, Inc. has a 1-year low of $196.00 and a 1-year high of $278.56. The company has a 50-day simple moving average of $254.97 and a two-hundred day simple moving average of $234.39. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The company has a market cap of $2.61 trillion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 1.78 and a beta of 1.46.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $1.15. The company had revenue of $181.52 billion for the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 EPS. As a group, equities analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current year.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon reported record Prime Day sales, signaling strong consumer demand and a healthy start to the holiday-shopping cycle. Article Title
• Positive Sentiment: AWS is expanding its enterprise AI strategy with a $1 billion engineering push and new partnerships, which could support future cloud revenue growth. Article Title
• Positive Sentiment: Amazon says its satellite network has reached the threshold for initial broadband service later this year, creating a potential new business line. Article Title
• Neutral Sentiment: Several analyst notes and valuation pieces remain constructive on Amazon, but they mostly reinforce existing bullish sentiment rather than changing the near-term outlook. Article Title
• Negative Sentiment: Some commentary continues to highlight concerns about Amazon’s large AI and infrastructure spending and the environmental cost of data-center growth, which could pressure margins or investor sentiment over time. Article Title

Wall Street Analyst Weigh In

A number of analysts recently commented on AMZN shares. Bank of America lifted their target price on shares of Amazon.com from $298.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company restated an “overweight” rating and set a $313.00 price target (up from $312.00) on shares of Amazon.com in a research note on Thursday. Robert W. Baird raised their price target on shares of Amazon.com from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. BNP Paribas Exane boosted their price objective on shares of Amazon.com from $320.00 to $345.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $280.00 target price on shares of Amazon.com in a research report on Friday, May 1st. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $312.79.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors have recently bought and sold shares of AMZN. Vanguard Group Inc. lifted its holdings in shares of Amazon.com by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 832,274,556 shares of the e-commerce giant’s stock valued at $158,348,557,000 after buying an additional 8,913,959 shares during the period. State Street Corp grew its holdings in Amazon.com by 1.8% during the fourth quarter. State Street Corp now owns 388,653,121 shares of the e-commerce giant’s stock worth $89,708,913,000 after acquiring an additional 6,971,680 shares during the period. Geode Capital Management LLC grew its holdings in Amazon.com by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 225,120,994 shares of the e-commerce giant’s stock worth $51,753,622,000 after acquiring an additional 2,479,324 shares during the period. Norges Bank acquired a new stake in Amazon.com during the fourth quarter worth about $32,868,735,000. Finally, Auto Owners Insurance Co raised its position in Amazon.com by 27,376.7% during the fourth quarter. Auto Owners Insurance Co now owns 98,448,885 shares of the e-commerce giant’s stock valued at $2,272,397,000 after acquiring an additional 98,090,585 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.