Cullinan Associates Inc. Increases Position in Amazon.com, Inc. $AMZN

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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, topping analysts’ consensus estimates of $1.63 by $1.15. The company had revenue of $181.52 billion during the quarter, compared to analyst estimates of $177.28 billion. Amazon.com had a return on equity of 19.92% and a net margin of 12.22%.Amazon.com’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.59 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 7.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew S. Garman sold 17,751 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $205.22, for a total value of $3,642,860.22. Following the transaction, the chief executive officer directly owned 9,405 shares of the company’s stock, valued at $1,930,094.10. This represents a 65.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David Zapolsky sold 10,649 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $205.43, for a total value of $2,187,624.07. Following the completion of the transaction, the senior vice president directly owned 41,190 shares in the company, valued at approximately $8,461,661.70. The trade was a 20.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 201,026 shares of company stock valued at $49,128,874. Company insiders own 8.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMZN. HSBC boosted their price target on Amazon.com from $280.00 to $310.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Roth Mkm boosted their price target on Amazon.com from $285.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Citigroup reiterated a “buy” rating and issued a $325.00 price target (up from $285.00) on shares of Amazon.com in a report on Thursday, April 30th. China Renaissance boosted their price target on Amazon.com from $300.00 to $326.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Wedbush lowered their price target on Amazon.com from $340.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $312.66.

Read Our Latest Stock Analysis on Amazon.com

Amazon.com Profile

(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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