Citigroup Reaffirms Buy Rating for Amazon.com (AMZN)
Citigroup reaffirmed their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research report released on Friday. The brokerage currently has a $1,400.00 price objective on the e-commerce giant’s stock, up from their prior price objective of $1,250.00.
A number of other research analysts have also recently weighed in on AMZN. MKM Partners reiterated a buy rating and issued a $1,275.00 target price on shares of Amazon.com in a research note on Thursday, September 7th. Royal Bank of Canada set a $1,100.00 target price on shares of Amazon.com and gave the company a buy rating in a research note on Monday, September 11th. Barclays reiterated an overweight rating and issued a $1,150.00 target price on shares of Amazon.com in a research note on Tuesday, September 12th. Loop Capital started coverage on shares of Amazon.com in a research note on Tuesday, September 12th. They issued a buy rating and a $1,200.00 target price on the stock. Finally, UBS Group reiterated a buy rating and issued a $1,200.00 target price on shares of Amazon.com in a research note on Saturday, September 16th. Four analysts have rated the stock with a hold rating and fifty-one have given a buy rating to the stock. Amazon.com presently has a consensus rating of Buy and an average price target of $1,252.24.
Shares of Amazon.com (NASDAQ:AMZN) traded up $0.59 during mid-day trading on Friday, reaching $1,247.46. 1,811,479 shares of the company’s stock were exchanged, compared to its average volume of 3,430,000. Amazon.com has a twelve month low of $789.51 and a twelve month high of $1,259.33. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.00. The company has a market cap of $601,340.00, a P/E ratio of 315.02, a price-to-earnings-growth ratio of 7.22 and a beta of 1.46.
In other news, VP Shelley Reynolds sold 544 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $1,126.27, for a total value of $612,690.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey A. Wilke sold 2,800 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $1,160.34, for a total transaction of $3,248,952.00. Following the completion of the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $11,603,400. The disclosure for this sale can be found here. Insiders have sold a total of 402,338 shares of company stock worth $444,391,701 in the last ninety days. 17.00% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Harbour Capital Advisors LLC grew its holdings in shares of Amazon.com by 100,947.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock valued at $2,379,000 after purchasing an additional 2,300,593 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Amazon.com by 1,045.8% during the 2nd quarter. Janus Henderson Group PLC now owns 1,775,556 shares of the e-commerce giant’s stock valued at $1,718,711,000 after purchasing an additional 1,620,588 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Amazon.com by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 26,863,386 shares of the e-commerce giant’s stock valued at $26,003,758,000 after purchasing an additional 764,115 shares during the last quarter. Truepoint Inc. grew its holdings in shares of Amazon.com by 94,448.7% during the 3rd quarter. Truepoint Inc. now owns 572,965 shares of the e-commerce giant’s stock valued at $573,000 after purchasing an additional 572,359 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of Amazon.com by 2.4% during the 2nd quarter. BlackRock Inc. now owns 23,925,821 shares of the e-commerce giant’s stock valued at $23,160,193,000 after purchasing an additional 554,990 shares during the last quarter. 59.78% of the stock is currently owned by hedge funds and other institutional investors.
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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 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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