Traders Buy Amazon.com, Inc. (NASDAQ:AMZN) on Weakness on Insider Selling

Investors bought shares of Amazon.com, Inc. (NASDAQ:AMZN) on weakness during trading on Tuesday after an insider sold shares in the company. $794.92 million flowed into the stock on the tick-up and $672.61 million flowed out of the stock on the tick-down, for a money net flow of $122.31 million into the stock. Of all companies tracked, Amazon.com had the 4th highest net in-flow for the day. Amazon.com traded down ($2.43) for the day and closed at $989.84Specifically, CEO Jeffrey A. Wilke sold 4,000 shares of the stock in a transaction that occurred 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 $9,697,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shelley Reynolds sold 544 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $986.52, for a total value of $536,666.88. Following the sale, the vice president now owns 6,533 shares of the company’s stock, valued at approximately $6,444,935.16. The disclosure for this sale can be found here. Insiders sold 16,463 shares of company stock valued at $16,299,266 over the last three months. Corporate insiders own 17.70% of the company’s stock.

Several research analysts have issued reports on AMZN shares. Stifel Nicolaus reiterated a “buy” rating and issued a $1,025.00 price objective on shares of Amazon.com in a research report on Monday, April 24th. Instinet increased their price objective on Amazon.com from $925.00 to $975.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Nomura reiterated a “buy” rating and issued a $975.00 price objective on shares of Amazon.com in a research report on Monday, April 24th. MKM Partners reiterated a “buy” rating and issued a $995.00 price objective on shares of Amazon.com in a research report on Tuesday, April 25th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $970.00 target price on shares of Amazon.com in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, forty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Amazon.com currently has an average rating of “Buy” and a consensus price target of $1,078.80.

The company has a market cap of $460.43 billion, a P/E ratio of 243.76 and a beta of 1.48. The firm’s 50-day moving average price is $995.90 and its 200-day moving average price is $931.08.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 27th. The e-commerce giant reported $0.40 earnings per share for the quarter, missing the consensus estimate of $1.40 by $1.00. Amazon.com had a return on equity of 9.38% and a net margin of 1.28%. The business had revenue of $37.96 billion during the quarter, compared to the consensus estimate of $37.18 billion. During the same period in the prior year, the firm earned $1.78 EPS. The business’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, analysts forecast that Amazon.com, Inc. will post $3.83 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the stock. Dodge & Cox purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $754,000. Israel Discount Bank of New York GFN purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $212,000. Norges Bank purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $2,736,365,000. Infrastructure Capital Advisors LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $1,140,000. Finally, Sowell Financial Services LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $1,548,000. 61.90% of the stock is currently owned by institutional investors and hedge funds.

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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 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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