Key Points
- Amazon CEO Douglas Herrington sold 1,000 shares on July 1 at an average price of $239.77, totaling $239,770. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Herrington still owned 484,527 shares valued at about $116.2 million, reflecting only a small 0.21% reduction in his holdings.
- Amazon continues to draw bullish Wall Street sentiment, with analysts maintaining a “Moderate Buy” rating and an average price target of $312.79. Recent company updates also point to growth catalysts in AI, satellite internet, and strong Prime Day sales.
Amazon.com, Inc. (NASDAQ:AMZN) CEO Douglas Herrington sold 1,000 shares of Amazon.com stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $239.77, for a total transaction of $239,770.00. Following the sale, the chief executive officer owned 484,527 shares in the company, valued at $116,175,038.79. This represents a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Amazon.com Stock Performance
NASDAQ AMZN opened at $242.67 on Friday. The company has a fifty day moving average of $254.82 and a two-hundred day moving average of $234.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. Amazon.com, Inc. has a 1 year low of $196.00 and a 1 year high of $278.56. The company has a market capitalization of $2.61 trillion, a PE ratio of 29.03, a P/E/G ratio of 1.80 and a beta of 1.46.
Amazon.com (NASDAQ:AMZN - Get Free Report) 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 business had revenue of $181.52 billion during 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 quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 EPS. As a group, analysts expect that Amazon.com, Inc. will post 7.75 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Moffett Nathanson upped their price target on shares of Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Wells Fargo & Company reiterated an "overweight" rating and set a $313.00 price target (up from $312.00) on shares of Amazon.com in a research note on Thursday. Telsey Advisory Group raised their price objective on shares of Amazon.com from $300.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Finally, Citizens Jmp restated a "market outperform" rating and issued a $315.00 price objective on shares of Amazon.com in a research note on Friday, April 10th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and an average target price of $312.79.
View Our Latest Stock Analysis on AMZN
Key Headlines Impacting Amazon.com
Here are the key news stories impacting Amazon.com this week:
Hedge Funds Weigh In On Amazon.com
Hedge funds and other institutional investors have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA acquired a new stake in shares of Amazon.com in the third quarter worth approximately $451,642,000. Narwhal Capital Management raised its stake in Amazon.com by 2.3% during the fourth quarter. Narwhal Capital Management now owns 216,606 shares of the e-commerce giant's stock worth $49,997,000 after purchasing an additional 4,854 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Amazon.com by 21.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 24,653,228 shares of the e-commerce giant's stock worth $5,690,463,000 after purchasing an additional 4,275,942 shares during the period. Weaver Capital Management LLC boosted its holdings in shares of Amazon.com by 13.6% in the 4th quarter. Weaver Capital Management LLC now owns 39,264 shares of the e-commerce giant's stock valued at $9,063,000 after purchasing an additional 4,713 shares during the last quarter. Finally, Ethos Financial Group LLC grew its stake in shares of Amazon.com by 9.6% during the 4th quarter. Ethos Financial Group LLC now owns 36,485 shares of the e-commerce giant's stock valued at $8,421,000 after buying an additional 3,196 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.
About Amazon.com
(
Get Free Report)
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.
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