Amazon.com (NASDAQ:AMZN) CEO Douglas Herrington Sells 1,000 Shares

Amazon.com, Inc. (NASDAQ:AMZN) CEO Douglas Herrington sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $239.77, for a total transaction of $239,770.00. Following the completion of the sale, the chief executive officer directly owned 484,527 shares in the company, valued at $116,175,038.79. This trade represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amazon.com Stock Performance

Shares of AMZN stock opened at $242.67 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The firm has a market cap of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.80 and a beta of 1.46. The firm’s 50 day moving average price is $254.82 and its 200-day moving average price is $234.51. Amazon.com, Inc. has a one year low of $196.00 and a one year high of $278.56.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, beating the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion during the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.59 EPS. As a group, equities research analysts predict that Amazon.com, Inc. will post 7.75 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. New Street Research boosted their price objective on Amazon.com from $280.00 to $350.00 and gave the company a “buy” rating in a report on Monday, May 4th. Bank of America lifted their target price on Amazon.com from $298.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Susquehanna reiterated a “positive” rating and set a $325.00 price target (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Piper Sandler set a $330.00 price target on shares of Amazon.com in a research report on Thursday, June 11th. Finally, William Blair reissued an “outperform” rating on shares of Amazon.com in a research note on Thursday, April 9th. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.79.

Institutional Trading of Amazon.com

A number of large investors have recently made changes to their positions in AMZN. Brighton Jones LLC increased its holdings in shares of Amazon.com by 10.9% in the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant’s stock valued at $885,478,000 after acquiring an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Amazon.com by 4.1% during the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant’s stock worth $5,495,000 after purchasing an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant’s stock valued at $442,481,000 after purchasing an additional 54,987 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in Amazon.com by 5.5% in the fourth quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant’s stock valued at $6,357,000 after purchasing an additional 1,518 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC purchased a new position in Amazon.com in the fourth quarter valued at approximately $2,153,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Key Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Amazon said its Leo satellite network has enough satellites to begin initial broadband service this year, creating a new growth avenue in space-based internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is deepening its AI strategy by developing custom chips for consumer devices and expanding AWS AI engineering support, which could strengthen margins and enterprise adoption. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day sales reportedly rose to a record $26.4 billion, signaling strong e-commerce demand and improving sentiment ahead of quarterly results. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Amazon.com Company Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.