Amazon.com CEO Douglas J. Herrington Sells 3,500 Shares

On December 2nd, Douglas J. Herrington, the CEO of Amazon.com, Inc. (NASDAQ:AMZN), executed a sale of 3,500 shares of the company’s stock. The shares were sold at an average price of $210.00 each, bringing the total transaction value to $735,000. Following this sale, Herrington's ownership in the company is now 524,567 shares, which are valued at approximately $110,159,070. This represents a decrease of 0.66% in his overall position within Amazon.

Amazon.com Stock Performance

During midday trading on Wednesday, shares of Amazon.com were up by 2.2%, increasing by $4.72 to reach $218.16. The trading volume for the day was 48,679,234 shares, which surpasses the firm’s average trading volume of 41,404,594 shares. Amazon has a substantial market capitalization of $2.29 trillion. Its price-to-earnings (P/E) ratio stands at 46.94, and it has a price-to-earnings-growth (PEG) ratio of 1.41. The company's 50-day and 200-day simple moving averages are $195.51 and $187.34, respectively. Over the past year, Amazon's stock has ranged between a low of $143.13 and a high of $220.00. Its financial ratios include a debt-to-equity ratio of 0.21, a current ratio of 1.09, and a quick ratio of 0.87.

Recent Earnings Report

Amazon.com recently released its quarterly earnings on October 31st, showing an earnings per share (EPS) of $1.43. This performance exceeded analysts’ expectations, who had predicted an EPS of $1.14. The company's return on equity for the quarter was reported at 22.41%, alongside a net margin of 8.04%. Amazon’s revenue for the quarter was $158.88 billion, surpassing the expectations of $157.28 billion. Compared to the same quarter last year, this represents an 11.0% increase in revenue, as last year the company reported an EPS of $0.85. Analysts forecast an average EPS of 5.29 for Amazon for the current year.

Analyst Ratings

Equity research analysts have shared their insights regarding Amazon's share price. Needham & Company reaffirmed a "buy" rating and set a target price of $250.00 for the stock. DA Davidson reiterated a "buy" rating with a price target of $235.00. Wells Fargo & Company assigned an "equal weight" rating with a price target of $197.00. UBS Group revised its price target for Amazon from $220.00 to $223.00 while maintaining a "buy" rating. Scotiabank also adjusted its price objective from $245.00 to $246.00, marking it as a "sector outperform". Overall, analysts predominantly favor Amazon with a consensus rating of "Moderate Buy" and an average target price of $236.20.

Institutional Investments in Amazon

Recent changes in institutional holdings reflect a growing interest in Amazon.com. State Street Corp increased its stake by 3.3% in the third quarter, now owning approximately 359,179,990 shares, worth about $66.93 billion. Geode Capital Management also raised its stake by 3.4%, bringing its total to about 199,915,046 shares, valued at $37.12 billion. Furthermore, Capital Research Global Investors boosted its holdings by 8.5% during the first quarter. Legal & General Group Plc increased its position by 1.5%, while Bank of New York Mellon Corp slightly raised its stake by 0.4%. Currently, over 72% of Amazon's stock is owned by hedge funds and other institutional investors.

About Amazon.com

Amazon.com, Inc. engages in the sale of consumer products through both online and physical retail platforms. The company operates through several segments, including North America, International, and Amazon Web Services (AWS). In addition to retail, Amazon also manufactures and sells a variety of electronic devices such as Kindle, Fire tablets, Echo, and others, while also developing media content.

Amazon, Stock, Herrington