Amazon.com (NASDAQ:AMZN) had its target price boosted by investment analysts at Wedbush to $1,750.00 in a research note issued on Friday, The Fly reports. The firm currently has an “outperform” rating on the e-commerce giant’s stock. Wedbush’s target price would suggest a potential upside of 22.38% from the stock’s previous close.
A number of other equities research analysts have also weighed in on the stock. Credit Suisse Group reissued an “outperform” rating and set a $1,750.00 price objective on shares of Amazon.com in a report on Friday. Loop Capital boosted their price objective on shares of Amazon.com to $1,600.00 in a report on Friday. Jefferies Group boosted their price objective on shares of Amazon.com from $1,450.00 to $1,750.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Co boosted their price objective on shares of Amazon.com to $1,700.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Jaffray Companies boosted their target price on shares of Amazon.com to $1,650.00 and gave the company an “overweight” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating, forty-eight have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,374.87.
Shares of Amazon.com (AMZN) traded up $39.95 on Friday, hitting $1,429.95. 11,012,011 shares of the stock were exchanged, compared to its average volume of 4,090,000. The stock has a market capitalization of $689,050.00, a price-to-earnings ratio of 231.76, a PEG ratio of 8.37 and a beta of 1.63. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.00. Amazon.com has a 12-month low of $803.00 and a 12-month high of $1,498.00.
In related news, CEO Andrew R. Jassy sold 1,985 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1,125.38, for a total transaction of $2,233,879.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $3,248,952.00. Following the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $11,603,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,228 shares of company stock valued at $12,790,082. Insiders own 17.70% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Amazon.com by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 26,863,386 shares of the e-commerce giant’s stock valued at $26,003,758,000 after acquiring an additional 764,115 shares in the last quarter. BlackRock Inc. grew its stake in Amazon.com by 2.4% during the 2nd quarter. BlackRock Inc. now owns 23,925,821 shares of the e-commerce giant’s stock valued at $23,160,193,000 after acquiring an additional 554,990 shares in the last quarter. Capital Research Global Investors grew its stake in Amazon.com by 0.4% during the 2nd quarter. Capital Research Global Investors now owns 10,711,772 shares of the e-commerce giant’s stock valued at $10,368,995,000 after acquiring an additional 40,068 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Amazon.com by 1.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,828,302 shares of the e-commerce giant’s stock valued at $2,737,796,000 after acquiring an additional 46,800 shares in the last quarter. Finally, Harbour Capital Advisors LLC grew its stake in Amazon.com by 100,947.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,302,872 shares of the e-commerce giant’s stock valued at $2,379,000 after acquiring an additional 2,300,593 shares in the last quarter. Hedge funds and other institutional investors own 59.80% of the company’s stock.
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About Amazon.com
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.
