Today: The SunTrust Banks Inc. Boosts Amazon.com Inc. (AMZN) Price Target to $850.00

The SunTrust Banks Inc. Boosts Amazon.com Inc. (AMZN) Price Target to $850.00

Amazon.com Inc. (NASDAQ:AMZN) had its target price raised by SunTrust Banks Inc. from $800.00 to $850.00 in a research note issued to investors on Wednesday morning. They currently have a neutral rating on the e-commerce giant’s stock.

A number of other brokerages also recently issued reports on AMZN. Zacks Investment Research downgraded Amazon.com from a buy rating to a hold rating in a research report on Monday, October 3rd. Piper Jaffray Cos. reiterated an overweight rating and issued a $900.00 price objective on shares of Amazon.com in a research report on Tuesday, October 4th. Canaccord Genuity reiterated a buy rating and issued a $825.00 price objective on shares of Amazon.com in a research report on Tuesday, October 4th. Morgan Stanley increased their price objective on Amazon.com from $800.00 to $950.00 and gave the stock an overweight rating in a research report on Wednesday, October 5th. Finally, Wedbush reiterated an outperform rating and issued a $900.00 price objective on shares of Amazon.com in a research report on Friday, September 30th. Five equities research analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Amazon.com presently has a consensus rating of Buy and an average price target of $891.31.

Amazon.com (NASDAQ:AMZN) opened at 839.43 on Wednesday. Amazon.com has a one year low of $474.00 and a one year high of $847.21. The firm has a market capitalization of $397.95 billion, a P/E ratio of 208.76 and a beta of 1.19. The firm’s 50-day moving average price is $789.64 and its 200 day moving average price is $718.27.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 28th. The e-commerce giant reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.67. Amazon.com had a return on equity of 13.52% and a net margin of 1.60%. The company had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.54 billion. During the same quarter last year, the business posted $0.19 earnings per share. The firm’s revenue was up 31.1% compared to the same quarter last year. On average, equities analysts anticipate that Amazon.com will post $5.85 earnings per share for the current fiscal year.

In related news, CEO Andrew R. Jassy sold 14,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $800.00, for a total transaction of $11,200,000.00. Following the completion of the sale, the chief executive officer now owns 68,141 shares of the company’s stock, valued at $54,512,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Shelley Reynolds sold 625 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $770.10, for a total transaction of $481,312.50. Following the sale, the vice president now directly owns 6,519 shares of the company’s stock, valued at approximately $5,020,281.90. The disclosure for this sale can be found here. Corporate insiders own 17.70% of the company’s stock.

A number of large investors have recently bought and sold shares of AMZN. Pathstone Family Office LLC boosted its stake in Amazon.com by 92.1% in the second quarter. Pathstone Family Office LLC now owns 146 shares of the e-commerce giant’s stock worth $105,000 after buying an additional 70 shares during the last quarter. Kistler Tiffany Companies LLC boosted its position in Amazon.com by 906.7% in the second quarter. Kistler Tiffany Companies LLC now owns 151 shares of the e-commerce giant’s stock worth $108,000 after buying an additional 136 shares in the last quarter. Kings Point Capital Management bought a new position in Amazon.com during the second quarter worth about $109,000. Krilogy Financial LLC boosted its position in Amazon.com by 157.1% in the second quarter. Krilogy Financial LLC now owns 198 shares of the e-commerce giant’s stock worth $142,000 after buying an additional 121 shares in the last quarter. Finally, West Oak Capital LLC boosted its position in Amazon.com by 105.7% in the second quarter. West Oak Capital LLC now owns 216 shares of the e-commerce giant’s stock worth $155,000 after buying an additional 111 shares in the last quarter. 65.44% of the stock is owned by institutional investors.

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