Piper Sandler Trims Amazon.com (NASDAQ:AMZN) Target Price to $119.00

Amazon.com (NASDAQ:AMZN) had its price objective lowered by Piper Sandler from $125.00 to $119.00 in a report released on Tuesday morning, The Fly reports. The brokerage currently has an overweight rating on the e-commerce giant’s stock.

AMZN has been the subject of a number of other research reports. Wolfe Research cut their price objective on shares of Amazon.com from $150.00 to $130.00 and set an outperform rating for the company in a report on Friday, October 28th. Barclays decreased their target price on shares of Amazon.com from $200.00 to $140.00 and set an overweight rating on the stock in a report on Friday, October 28th. Wells Fargo & Company reduced their price target on shares of Amazon.com from $200.00 to $155.00 and set an overweight rating on the stock in a research note on Friday, October 28th. Mizuho cut their target price on shares of Amazon.com from $155.00 to $135.00 and set a buy rating on the stock in a research note on Friday, October 28th. Finally, Benchmark dropped their price objective on shares of Amazon.com from $160.00 to $125.00 and set a buy rating on the stock in a research report on Friday, October 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and forty-one have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $149.40.

Amazon.com Stock Up 1.0 %

Shares of NASDAQ AMZN opened at $94.13 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.68 and a debt-to-equity ratio of 0.43. Amazon.com has a 12-month low of $85.87 and a 12-month high of $181.68. The stock has a market capitalization of $960.28 billion, a price-to-earnings ratio of 86.40, a P/E/G ratio of 6.23 and a beta of 1.23. The firm’s 50-day moving average price is $108.44 and its 200-day moving average price is $116.60.

Amazon.com (NASDAQ:AMZNGet Rating) last released its quarterly earnings data on Thursday, October 27th. The e-commerce giant reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.06. The firm had revenue of $127.10 billion for the quarter, compared to the consensus estimate of $127.47 billion. Amazon.com had a net margin of 2.25% and a return on equity of 14.44%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. On average, equities research analysts anticipate that Amazon.com will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Amazon Com Inc sold 250,000 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $23.61, for a total value of $5,902,500.00. Following the completion of the transaction, the insider now owns 14,178,445 shares of the company’s stock, valued at approximately $334,753,086.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Adam Selipsky sold 520 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $114.61, for a total transaction of $59,597.20. Following the transaction, the chief executive officer now directly owns 114,660 shares in the company, valued at approximately $13,141,182.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Amazon Com Inc sold 250,000 shares of the business’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $23.61, for a total value of $5,902,500.00. Following the sale, the insider now owns 14,178,445 shares in the company, valued at approximately $334,753,086.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,988 shares of company stock valued at $11,164,283. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently bought and sold shares of AMZN. Vanguard Group Inc. grew its position in Amazon.com by 1.8% in the third quarter. Vanguard Group Inc. now owns 701,550,877 shares of the e-commerce giant’s stock worth $79,275,249,000 after acquiring an additional 12,456,995 shares during the period. State Street Corp grew its holdings in shares of Amazon.com by 1.0% during the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock worth $37,272,937,000 after buying an additional 3,121,516 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Amazon.com by 1,838.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after purchasing an additional 295,880,050 shares in the last quarter. FMR LLC boosted its holdings in Amazon.com by 1,792.4% in the 2nd quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after purchasing an additional 270,931,640 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Amazon.com by 1,867.0% during the 2nd quarter. Northern Trust Corp now owns 94,997,372 shares of the e-commerce giant’s stock valued at $10,089,669,000 after acquiring an additional 90,167,792 shares during the period. Institutional investors and hedge funds own 57.15% of the company’s stock.

About Amazon.com

(Get Rating)

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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