Amazon.com (NASDAQ:AMZN) CEO Sells $239,770.00 in Stock

Amazon.com, Inc. (NASDAQ:AMZN) CEO Douglas Herrington sold 1,000 shares of Amazon.com 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 transaction, the chief executive officer directly owned 484,527 shares in the company, valued at approximately $116,175,038.79. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Amazon.com Price Performance

Amazon.com stock opened at $242.67 on Friday. The business has a fifty day moving average of $254.57 and a two-hundred day moving average of $234.57. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.61 trillion, a P/E ratio of 29.03, a P/E/G ratio of 1.81 and a beta of 1.46. Amazon.com, Inc. has a twelve month low of $196.00 and a twelve month high of $278.56.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $1.15. The business had revenue of $181.52 billion for the quarter, compared to the consensus estimate of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.The business’s revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business posted $1.59 EPS. On average, analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Key Headlines Impacting Amazon.com

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, opening a new growth opportunity in satellite internet. Reuters: Amazon to start initial Leo internet service this year as network nears 400 satellites
• Positive Sentiment: Amazon is expanding its AI strategy with custom device chips and broader AWS AI capabilities, which could support future margins and growth. CNBC: Amazon is designing its own AI chips for Echo, Fire TV and future devices
• Positive Sentiment: Prime Day-related reports pointed to strong online shopping demand, reinforcing confidence in Amazon’s retail momentum heading into earnings. Yahoo Finance/Reuters: Online Spending Rises 5.3% on First Day of Amazon’s Prime Day

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMZN. HSBC boosted their target price on shares of Amazon.com from $280.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Pivotal Research restated a “buy” rating and issued a $320.00 price target (up from $300.00) on shares of Amazon.com in a report on Thursday, April 30th. Royal Bank Of Canada reiterated a “buy” rating on shares of Amazon.com in a research note on Tuesday, June 16th. Citigroup restated a “market outperform” rating on shares of Amazon.com in a research note on Monday, June 1st. Finally, Moffett Nathanson lifted their price target on shares of Amazon.com from $283.00 to $288.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $312.79.

Institutional Trading of Amazon.com

Several large investors have recently bought and sold shares of AMZN. MilWealth Group LLC grew its holdings in shares of Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after buying an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. purchased a new position in Amazon.com in the 4th quarter worth $45,000. Elkhorn Partners Limited Partnership lifted its position in Amazon.com by 900.0% during the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC lifted its position in Amazon.com by 95.6% during the 4th quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. grew its stake in Amazon.com by 87.7% during the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant’s stock valued at $53,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

About Amazon.com

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.