Amazon.com, Inc. (AMZN) In Talks With Boeing (BA) To Lease 20 Jets For Own Deliveries

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Amazon.com, Inc. (NASDAQ:AMZN) is known for cutting out the middleman, reducing prices to a point where others simply can’t compete. They may be about to take this philosophy a bit further. This morning their are numerous reports that executives from Amazon.com, Inc. (NASDAQ:AMZN) are now in talks with Boeing (NYSE:BA) to lease up to 20 Boeing 767 Jets. According to Air Transport International, a company that Amazon is currently working with on a trial basis, out of Wilmington Ohio to transport their own packages, says that each 767 is able to hold up to 18 pallets measuring 125 x 88 inches.

“Amazon is pretty fed up with the third-party carriers being a bottleneck to their growth,” Robert W. Baird & Co. analyst Colin Sebastian said.

This would certainly be a move, that if expanded, could significantly reduce Amazon’s shipping costs while also making them more reliable. The stock decreased 0.76% or $5.12 during the last trading session, hitting $670.65. Approximately 6,741 shares traded hands. AMZN shares have risen 57.43% since May 15, 2015 and are currently uptrending. It has outperformed the S&P500 by 59.69%.

From a total of 25 analysts covering Amazon.com (NASDAQ:AMZN) stock, 22 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 88% 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 $722.78 which is 7.77% above today’s ($670.65) stock price. Amazon.com was the topic of 58 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. M Partners initiated shares on December 15 with a “Buy” rating. Canaccord Genuity maintained shares with a”Hold” rating and a $600 target share price in their report from an October 23. Pacific Crest initiated AMZN stock in a recent report from December 8 with a “Overweight” rating. Benchmark maintained the rating on October 23. Benchmark has a “Buy” rating and a $700 price target on shares. Finally, Morgan Stanley maintained the stock with a “Overweight” rating in a report they issued on a November 11.

The institutional sentiment increased to 1.49 in Q2 2015. It’s up 0.37, from 1.12 in 2015Q2. The ratio is positive, as 67 funds sold all their Amazon.com, Inc. shares they owned while 376 reduced their positions. 166 funds bought stakes while 493 increased their total positions. Institutions now own 325.29 million shares which is 4.94% more than the previous share count of 309.99 million in 2015Q2.

Huntington Steele Llc holds 23.61% of its total portfolio in Amazon.com, Inc., equating to 103,872 shares. Tiger Global Management Llc owns 3.19 million shares representing 20.13% of their total US portfolio. Moreover, Tybourne Capital Management Hk Ltd has 18.16% of their total portfolio invested in the company, equating to 504,001 shares. The Washington-based Brighton Jones Llc has a total of 17.93% of their portfolio invested in the stock. Telemark Asset Management Llc, a Massachusetts-based fund reported 100,000 shares owned.

Since May 4, 2015, the stock had 0 insider purchases, and 12 insider sales 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 $3.16 million. Reynolds Shelley sold 720 shares worth $381,752. Olsavsky Brian T sold 2,098 shares worth $1.11M. 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 $316.78 billion. The Firm sells a range of services and products through its Websites. It has 972.86 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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