Wells Fargo & Company Reiterates “Equal Weight” Rating for Amazon.com (NASDAQ:AMZN)

Amazon.com (NASDAQ:AMZN)‘s stock had its “equal weight” rating reissued by stock analysts at Wells Fargo & Company in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $197.00 price objective on the e-commerce giant’s stock. Wells Fargo & Company‘s target price points to a potential downside of 0.85% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Pivotal Research initiated coverage on Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $236.00 target price (up from $230.00) on shares of Amazon.com in a report on Friday, November 1st. DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, October 10th. Itau BBA Securities lowered Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a report on Friday, August 2nd. Finally, Monness Crespi & Hardt raised their target price on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.77.

Amazon.com Trading Down 2.1 %

Amazon.com stock opened at $198.70 on Wednesday. The stock has a 50-day moving average of $192.79 and a two-hundred day moving average of $186.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. Amazon.com has a one year low of $142.81 and a one year high of $215.90. The stock has a market cap of $2.09 trillion, a PE ratio of 42.55, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts anticipate that Amazon.com will post 5.27 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,011,423 shares of company stock valued at $1,249,093,896. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares during the last quarter. State Street Corp raised its position in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Geode Capital Management LLC lifted its stake in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after acquiring an additional 6,545,944 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after acquiring an additional 6,810,145 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.