Amazon.com, Inc. (AMZN) Brings Fire Tablet to China, Partners with Baidu (BIDU)

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Amazon.com, Inc. (NASDAQ:AMZN) today has announced the availability of their popular Fire tablet in China, as the company looks to expand the sales channels for their own hardware. The Fire tablet will be available for just RMB 499 Yuan, and like others who have purchased the device elsewhere, it will provide users with access to thousands of Kindle books. Additionally the company has partnered with Baidu Inc. (NASDAQ:BIDU) to offer a more streamlined search, online video, and application experience to Chinese users of the Fire.

“We’ve already sold millions of Fire tablets since launch, and we’re excited to now make it available to customers in China,” said Neil Lindsay, Vice President, Amazon Devices. “With millions of readers already using Kindle e-readers in China, we’re excited to now offer another incredibly affordable option, particularly for customers learning to read English. With tools and features like Word Wise and Blue Shade, plus a large selection of Chinese and English content, we think readers will love the new Fire tablet.”

The stock closed at $676.01 during the last trading session. It is down 60.28% since April 30, 2015 and is uptrending. It has outperformed the S&P500 by 60.48%.

From a total of 23 analysts covering Amazon.com (NASDAQ:AMZN) stock, 20 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 87% of the ratings are positive. The highest target price is $850 while the lowest target price is $525. The mean of all analyst targets is $714.66 which is 5.72% above today’s ($676.01) stock price. Amazon.com was the topic of 55 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on December 1 with a “Overweight” rating. Canaccord Genuity maintained shares with a”Hold” rating and a $600 target share price in their report from an October 23. Axiom Capital maintained AMZN stock in a recent report from October 27 with a “Buy” rating. Robert W. Baird maintained the rating on October 23. Robert W. Baird has a “Buy” rating and a $710 price target on shares. Finally, Benchmark maintained the stock with a “Buy” rating in a report they issued on an October 23.

The institutional sentiment decreased to 1.12 in Q2 2015. It’s down 0.02, from 1.14 in 2015Q1. The ratio fall, as 70 funds sold all their Amazon.com, Inc. shares they owned while 402 reduced their positions. 141 funds bought stakes while 389 increased their total positions. Institutions now own 309.99 million shares which is 31.56% less than the previous share count of 452.95 million in 2015Q1.

Huntington Steele Llc holds 20.91% of its total portfolio in Amazon.com, Inc., equating to 113,843 shares. Tybourne Capital Management Hk Ltd owns 501,398 shares representing 18.49% of their total US portfolio. Moreover, Telemark Asset Management Llc has 11.46% of their total portfolio invested in the company, equating to 100,000 shares. The New York-based Signpost Capital Advisors Lp has a total of 10.95% of their portfolio invested in the stock. Brighton Jones Llc, a Washington-based fund reported 105,075 shares owned.

Since May 4, 2015, the stock had 0 insider buys, and 12 selling transactions for a total of $27.25 million in net activity. Stonesifer Patricia Q sold 6,250 shares worth $3.16 million. Wilke Jeffrey A sold 5,908 shares worth $3.16M. Reynolds Shelley sold 720 shares worth $381,752. Olsavsky Brian T sold 2,098 shares worth $1.11 million. The insider Zapolsky David sold 2,322 shares worth $1.23M.

Amazon.com, Inc. is an e-commerce company. The company has a market cap of $316.89 billion. The Firm sells a range of services and products through its Websites. It has 980.63 P/E ratio. The Company’s products are offered through consumer-facing Websites, which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

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