Amazon.com Inc. (NASDAQ:AMZN) saw unusually-high trading volume on Thursday after Maxim Group raised their price target on the stock from $825.00 to $940.00. Maxim Group currently has a buy rating on the stock. Approximately 3,662,307 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 3,431,053 shares.The stock last traded at $824.99 and had previously closed at $828.72.
Several other research analysts have also recently issued reports on AMZN. MKM Partners raised their target price on Amazon.com from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. Robert W. Baird assumed coverage on Amazon.com in a research report on Tuesday, May 31st. They issued a “buy” rating on the stock. Vetr raised Amazon.com from a “sell” rating to a “hold” rating and set a $700.67 price objective on the stock in a research note on Wednesday, June 1st. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Amazon.com in a research note on Thursday, June 2nd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Amazon.com in a research note on Saturday, June 4th. Six research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $881.13.
In other news, CEO Andrew R. Jassy sold 14,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 68,141 shares in the company, valued at $54,512,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey P. Bezos sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $756.74, for a total value of $756,740,000.00. Following the transaction, the chief executive officer now owns 81,871,067 shares of the company’s stock, valued at $61,955,111,241.58. The disclosure for this sale can be found here. Insiders own 17.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in Amazon.com by 24.5% in the first quarter. LPL Financial LLC now owns 105,035 shares of the e-commerce giant’s stock valued at $61,567,000 after buying an additional 20,700 shares in the last quarter. Acadian Asset Management LLC raised its position in Amazon.com by 9.0% in the second quarter. Acadian Asset Management LLC now owns 117,216 shares of the e-commerce giant’s stock worth $83,882,000 after buying an additional 9,640 shares during the period. Prudential PLC raised its position in Amazon.com by 5.7% in the first quarter. Prudential PLC now owns 105,738 shares of the e-commerce giant’s stock worth $62,771,000 after buying an additional 5,657 shares during the period. Suvretta Capital Management LLC bought a new position in Amazon.com during the first quarter worth about $147,407,000. Finally, British Columbia Investment Management Corp raised its position in Amazon.com by 1.3% in the second quarter. British Columbia Investment Management Corp now owns 204,723 shares of the e-commerce giant’s stock worth $146,504,000 after buying an additional 2,602 shares during the period. Institutional investors and hedge funds own 65.44% of the company’s stock.
The company has a market capitalization of $391.44 billion, a PE ratio of 205.34 and a beta of 1.11. The stock’s 50-day moving average price is $775.67 and its 200-day moving average price is $705.65.
Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.67. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The firm earned $30.40 billion during the quarter, compared to the consensus estimate of $29.54 billion. During the same period in the previous year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. Equities research analysts anticipate that Amazon.com Inc. will post $5.82 EPS for the current year.
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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