Amazon.com, Inc. (NASDAQ:AMZN) seems to be expanding its reach in every direction possible. In a move to expand their streaming video business, the company has announced that they will be streaming President Obama’s final State Of The Union address tomorrow evening at 9 p.m. ET.
“Around this time each year, our job in the Office of Digital Strategy has been to find new or expanded ways for the American people to engage with the President’s address,” wrote White House Chief Digital Officer Jason Goldman in a blog post. “That means meeting people where they are — and in this day and age, that starts by recognizing that even people following on two screens don’t just flip back and forth between a TV and a smartphone. We jump from different social media platforms — and we have shifting assumptions about the type of experience we’ll have on each.”
This move comes at a time when cable companies are battling to keep subscribers from turning to more affordable on-demand services like Netflix, Google Play, Apple TV and Amazon Prime. By catering to a wide general audience via the State of the Union Address, Amazon is garnering more attention from a very diverse crowd in the U.S.
The stock is up 0.73% or $4.4 following the news, hitting $611.45 per share. About 1.06 million shares traded hands. AMZN has risen 42.18% since June 5, 2015 and is uptrending. It has outperformed the S&P500 by 46.87%.
From a total of 26 analysts covering Amazon.com (NASDAQ:AMZN) stock, 22 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 85% 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 $726.35 which is 18.79% above today’s ($611.45) stock price. Amazon.com was the topic of 61 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Monness Crespi & Hardt downgraded shares on January 4 to a “Neutral” rating. Barclays Capital maintained shares with a”Overweight” rating and a $850 target share price in their report from a December 1. Macquarie Research maintained AMZN stock in a recent report from December 22 with a “Outperform” rating. Canaccord Genuity maintained the rating on October 23. Canaccord Genuity has a “Hold” rating and a $600 price target on shares. Finally, Nomura maintained the stock with a “Buy” rating in a report they issued on a December 9.
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 11 insider sales for a total of $27.04 million in net activity. Stonesifer Patricia Q sold 6,250 shares worth $3.16M. 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 $1.11M. The insider Zapolsky David sold 2,322 shares worth $1.23 million.
Amazon.com, Inc. is an e-commerce company. The company has a market cap of $286.63 billion. The Firm sells a range of services and products through its Websites. It has 886.99 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.