Smart Money Buying the Price Weakness of Amazon.com, Inc

Amazon May Be Unable To Achieve The Same Dominance In Cloud It Enjoys In Retail

Amazon May Be Unable To Achieve The Same Dominance In Cloud It Enjoys In Retail

Amazon.com, Inc. (NASDAQ:AMZN) was upgraded by stock analysts at Vetr from a "hold" rating to a "buy" rating in a report issued on Thursday. The consensus recommendation by Thomson Reuters analysts is Outperform and their mean rating for the stock is 2.30 on scale of 1-5. Vetr's target price points to a potential upside of 4.15% from the stock's previous close.

Several analysts recently commented on AMZN shares. JMP Securities reaffirmed a "positive" rating on shares of Amazon.com in a research note on Friday, February 3rd. Citigroup Inc cut their price objective on shares of Amazon.com from $965.00 to $960.00 and set a "buy" rating for the company in a research note on Monday, November 28th. Goldman Sachs Group Inc reissued a "buy" rating and issued a $1,010.00 price target on shares of Amazon.com in a research report on Thursday, December 29th. Cantor Fitzgerald reaffirmed a "buy" rating and issued a $1,000.00 price objective on shares of Amazon.com in a research note on Saturday, December 10th. The consensus target price is $802.92 with 13 firms rating the stock a strong buy, 28 firms rating the stock a buy, 4 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell. The stock now has a consensus rating of "Buy" and an average target price of $939.36. Amazon.com, Inc. stock trades in the range of $847.11 to $854.45 before the earnings release. Its 52-week High Value is $860.86 while its 52-week Low value is $538.58.

On 9/22/2016 Andrew R Jassy, CEO, sold 14,000 with an average share price of $800.00 per share and the total transaction amounting to $11,200,000.00. This company shares are 10.42% off its target price of $942.32 and the current market capitalization stands at $407.48B. The e-commerce giant is still rated at Overweight by Pac Crest. The company earned $43.74 billion during the quarter, compared to analysts' expectations of $44.66 billion. The current share price indicate that stock is 1.57% away from its one year high and is moving 36.01% ahead of its 52-week low. The business's revenue was up 22.4% compared to the same quarter past year. (AMZN) managed to surpass quarterly earnings per share estimates in 8 of the trailing twelve fiscal quarters, and has a positive trend with an average surprise of 66%. Also, Director Tom A. Alberg sold 590 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $850.00, for a total value of $501,500.00. Similar statistics are true for the second largest owner, Price T Rowe Associates Inc /Md/, which owns 20,919,431 shares of the stock are valued at $17.84 billion. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Men's hockey captures first Big Ten championship
The Dutchmen (25-9-3) are coming off a 4-1 loss to Cornell in the ECAC Hockey Tournament semifinals on Friday in Lake Placid. Despite Penn State's short varsity history, this will not be the first meeting with Union.

In other news, insider David Zapolsky sold 503 shares of Amazon.com stock in a transaction that occurred on Tuesday, February 21st. Following the sale, the insider now owns 2,523 shares of the company's stock, valued at $2,144,550. The disclosure for this sale can be found here.

Hedge funds and other institutional investors own 65.08% of the company's stock. Cape Cod Five Cents Savings Bank raised its stake in Amazon.com by 0.6% in the third quarter. Asset Management One Co. Reilly Financial Advisors LLC raised its stake in shares of Amazon.com by 0.4% in the third quarter. Israel Discount Bank of New York GFN purchased a new position in Amazon.com during the fourth quarter worth about $212,000. Affinity Wealth Management now owns 578 shares of the e-commerce giant's stock worth $484,000 after buying an additional 3 shares in the last quarter. CAM Group Holding A S bought a new stake in Amazon.com during the third quarter worth about $244,252,000. Finally, Ruane Cunniff & Goldfarb Inc. acquired a new position in Amazon.com during the fourth quarter worth $335,571,000.

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