Amazon.com (NASDAQ:AMZN)‘s stock had its “buy” rating reissued by analysts at Bank of America in a report issued on Wednesday, MarketBeat reports. They currently have a $2,100.00 target price on the e-commerce giant’s stock, up from their previous target price of $2,000.00. Bank of America‘s price target indicates a potential upside of 26.79% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Independent Research restated a “buy” rating on shares of Amazon.com in a report on Wednesday, September 26th. BidaskClub upgraded Amazon.com from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Macquarie reiterated a “buy” rating and set a $2,200.00 price objective on shares of Amazon.com in a report on Tuesday, October 2nd. Barclays reiterated an “overweight” rating and set a $1,950.00 price objective (down from $2,100.00) on shares of Amazon.com in a report on Friday, October 26th. Finally, William Blair reiterated an “outperform” rating on shares of Amazon.com in a report on Monday, October 29th. Three equities research analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $2,087.85.
Shares of Amazon.com stock opened at $1,656.22 on Wednesday. Amazon.com has a 1 year low of $1,256.46 and a 1 year high of $2,050.50. The stock has a market capitalization of $811.40 billion, a price-to-earnings ratio of 364.00, a price-to-earnings-growth ratio of 2.33 and a beta of 1.66. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.63.
In other news, CEO Jeffrey P. Bezos sold 16,964 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $1,632.23, for a total value of $27,689,149.72. Following the completion of the sale, the chief executive officer now directly owns 78,884,539 shares of the company’s stock, valued at $128,757,711,091.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Shelley Reynolds sold 437 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $1,573.11, for a total value of $687,449.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,842 shares of company stock valued at $38,549,801. Insiders own 16.30% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Neville Rodie & Shaw Inc. lifted its holdings in Amazon.com by 30.2% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 1,624 shares of the e-commerce giant’s stock worth $2,761,000 after purchasing an additional 377 shares during the last quarter. Cibc Bank USA lifted its holdings in Amazon.com by 2.9% during the 2nd quarter. Cibc Bank USA now owns 3,758 shares of the e-commerce giant’s stock worth $6,388,000 after purchasing an additional 106 shares during the last quarter. Norman Fields Gottscho Capital Management LLC acquired a new stake in Amazon.com during the 2nd quarter worth approximately $223,000. Gulf International Bank UK Ltd lifted its holdings in Amazon.com by 2.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 132,296 shares of the e-commerce giant’s stock worth $224,876,000 after purchasing an additional 3,198 shares during the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new stake in Amazon.com during the 2nd quarter worth approximately $214,000. 55.57% of the stock is owned by institutional investors.
Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.
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