BidaskClub Downgrades Amazon.com (AMZN) to Buy
BidaskClub downgraded shares of Amazon.com (NASDAQ:AMZN) from a strong-buy rating to a buy rating in a research report released on Saturday.
Other research analysts also recently issued reports about the company. Loop Capital upped their price objective on Amazon.com to $1,600.00 in a research note on Friday, February 2nd. TheStreet raised Amazon.com from a c+ rating to a b- rating in a research note on Tuesday, November 7th. Goldman Sachs Group reissued a buy rating on shares of Amazon.com in a research note on Thursday, October 26th. Cantor Fitzgerald reissued a buy rating and issued a $1,150.00 price target on shares of Amazon.com in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Amazon.com in a research note on Tuesday, October 24th. Six investment analysts have rated the stock with a hold rating, forty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Amazon.com has an average rating of Buy and a consensus target price of $1,437.43.
Amazon.com (AMZN) opened at $1,414.51 on Friday. The company has a market capitalization of $684,770.00, a price-to-earnings ratio of 229.26, a P/E/G ratio of 5.89 and a beta of 1.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.76 and a current ratio of 1.04. Amazon.com has a 52 week low of $831.45 and a 52 week high of $1,498.00.
In other Amazon.com news, Director Tom A. Alberg sold 870 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $1,150.00, for a total value of $1,000,500.00. Following the transaction, the director now directly owns 17,949 shares of the company’s stock, valued at approximately $20,641,350. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chief Executive Officer of Worldwide Consumer Jeffrey A. Wilke sold 2,800 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $1,160.34, for a total value of $3,248,952.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at $11,603,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,505 shares of company stock worth $5,253,740. Insiders own 17.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Goelzer Investment Management Inc. increased its holdings in shares of Amazon.com by 48.7% during the 2nd quarter. Goelzer Investment Management Inc. now owns 397 shares of the e-commerce giant’s stock valued at $384,000 after acquiring an additional 130 shares during the last quarter. Lakeview Capital Partners LLC increased its holdings in shares of Amazon.com by 19.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 1,074 shares of the e-commerce giant’s stock valued at $1,040,000 after acquiring an additional 176 shares during the last quarter. CI Investments Inc. increased its holdings in shares of Amazon.com by 0.7% during the 3rd quarter. CI Investments Inc. now owns 56,995 shares of the e-commerce giant’s stock valued at $54,792,000 after acquiring an additional 400 shares during the last quarter. Perpetual Ltd acquired a new position in shares of Amazon.com during the 2nd quarter valued at about $25,356,000. Finally, R. G. Niederhoffer Capital Management Inc. acquired a new position in shares of Amazon.com during the 2nd quarter valued at about $871,000. 59.06% of the stock is currently owned by institutional investors.
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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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