Posted by Defense World Staff on May 25th, 2024
Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 0.1% during mid-day trading on Thursday following insider selling activity. The company traded as low as $182.21 and last traded at $182.96. Approximately 9,517,548 shares were traded during trading, a decline of 78% from the average daily volume of 43,082,691 shares. The stock had previously closed at $183.13.
Specifically, CEO Andrew R. Jassy sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $180.00, for a total transaction of $9,000,000.00. Following the transaction, the chief executive officer now owns 1,994,182 shares of the company’s stock, valued at $358,952,760. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $180.00, for a total value of $90,000.00. Following the completion of the transaction, the chief executive officer now directly owns 132,600 shares of the company’s stock, valued at $23,868,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 50,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $180.00, for a total transaction of $9,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,994,182 shares of the company’s stock, valued at $358,952,760. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 117,894 shares of company stock valued at $21,363,909. 10.80% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on shares of Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Monness Crespi & Hardt lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Raymond James boosted their target price on shares of Amazon.com from $200.00 to $205.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets boosted their price objective on shares of Amazon.com from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Buy” and a consensus target price of $211.62.
Get Our Latest Stock Report on AMZN
Amazon.com Price Performance
The firm has a 50 day moving average price of $182.04 and a 200 day moving average price of $166.06. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.88 trillion, a P/E ratio of 50.63, a P/E/G ratio of 1.30 and a beta of 1.15.
Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, analysts forecast that Amazon.com, Inc. will post 4.72 EPS for the current fiscal year.
Hedge Funds Weigh In On Amazon.com
A number of institutional investors and hedge funds have recently modified their holdings of AMZN. Cetera Advisor Networks LLC boosted its holdings in Amazon.com by 7.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,479,137 shares of the e-commerce giant’s stock valued at $266,807,000 after acquiring an additional 97,618 shares during the period. Cetera Advisors LLC raised its position in Amazon.com by 79.7% during the 1st quarter. Cetera Advisors LLC now owns 991,672 shares of the e-commerce giant’s stock valued at $178,878,000 after purchasing an additional 439,787 shares in the last quarter. Dodds Wealth LLC raised its position in Amazon.com by 9.5% during the 1st quarter. Dodds Wealth LLC now owns 3,239 shares of the e-commerce giant’s stock valued at $584,000 after purchasing an additional 281 shares in the last quarter. PGGM Investments raised its position in Amazon.com by 23.7% during the 1st quarter. PGGM Investments now owns 334,959 shares of the e-commerce giant’s stock valued at $60,420,000 after purchasing an additional 64,208 shares in the last quarter. Finally, ARQ Wealth Advisors LLC raised its position in shares of Amazon.com by 91.6% in the 1st quarter. ARQ Wealth Advisors LLC now owns 3,120 shares of the e-commerce giant’s stock worth $563,000 after acquiring an additional 1,492 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Amazon.com Company Profile
Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.
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