Atlantic Securities Reaffirms “Buy” Rating for Amazon.com, Inc. (AMZN)
Several other equities research analysts have also weighed in on the company. JMP Securities restated a buy rating on shares of Amazon.com in a research report on Friday. Oppenheimer Holdings, Inc. restated a buy rating on shares of Amazon.com in a research report on Friday. Stifel Nicolaus restated a buy rating and set a $1,100.00 price target (up from $1,075.00) on shares of Amazon.com in a research report on Friday. Morgan Stanley restated a buy rating on shares of Amazon.com in a research report on Friday. Finally, J P Morgan Chase & Co restated a buy rating on shares of Amazon.com in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $1,058.27.
Shares of Amazon.com (AMZN) traded up 1.00% during trading on Friday, hitting $997.68. The stock had a trading volume of 889,618 shares. The firm has a 50 day moving average price of $998.39 and a 200-day moving average price of $917.27. The stock has a market capitalization of $479.26 billion, a price-to-earnings ratio of 253.73 and a beta of 1.48. Amazon.com has a 52 week low of $710.10 and a 52 week high of $1,083.31.
Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by $1.00. Amazon.com had a net margin of 1.28% and a return on equity of 9.38%. The firm had revenue of $37.96 billion for the quarter, compared to the consensus estimate of $37.18 billion. During the same quarter in the prior year, the firm earned $1.78 earnings per share. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities research analysts forecast that Amazon.com will post $6.72 EPS for the current fiscal year.
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In other news, CEO Jeffrey P. Bezos sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $940.74, for a total value of $940,740,000.00. Following the completion of the sale, the chief executive officer now owns 80,857,196 shares of the company’s stock, valued at approximately $76,065,598,565.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey A. Wilke sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $969.73, for a total value of $3,878,920.00. Following the completion of the sale, the chief executive officer now directly owns 10,000 shares of the company’s stock, valued at approximately $9,697,300. The disclosure for this sale can be found here. Insiders sold a total of 1,013,585 shares of company stock valued at $954,068,366 in the last three months. Insiders own 17.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Carbonado Capital boosted its stake in Amazon.com by 30.0% in the fourth quarter. Carbonado Capital now owns 65,000 shares of the e-commerce giant’s stock worth $48,742,000 after buying an additional 15,000 shares during the last quarter. Weitz Investment Management Inc. raised its position in shares of Amazon.com by 2,392.0% in the fourth quarter. Weitz Investment Management Inc. now owns 12,460 shares of the e-commerce giant’s stock worth $9,343,000 after buying an additional 11,960 shares during the period. Selkirk Management LLC raised its position in shares of Amazon.com by 30.3% in the fourth quarter. Selkirk Management LLC now owns 14,415 shares of the e-commerce giant’s stock worth $10,809,000 after buying an additional 3,355 shares during the period. Guardian Capital Advisors LP purchased a new position in shares of Amazon.com during the fourth quarter worth about $246,000. Finally, Intact Investment Management Inc. raised its position in shares of Amazon.com by 7.2% in the fourth quarter. Intact Investment Management Inc. now owns 3,430 shares of the e-commerce giant’s stock worth $2,573,000 after buying an additional 230 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.
Amazon.com Company Profile
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 North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.
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