We all know that Amazon.com, Inc. (NASDAQ:AMZN) intends to enter the shipping business to some extent over the next several months and years, but the company, to date, has been very quiet about these aspirations. In the company’s annual report (10-K filing) the world’s largest ecommerce company refered to themselves as a ‘transportation service provide,’ and stated that they were now competitors to other “companies that provide fulfillment and logistics services for themselves or for third parties, whether online or offline.”
There had been hints that Amazon.com, Inc. (NASDAQ:AMZN) was headed in this direction for some time, however, there had been nothing provided by the company to back this up until this last filing. With this said, Amazon continues to downplay their intentions.
“In order to properly serve our customers at peak, we’ve needed to add more of our own logistics to supplement our existing partners,” stated Amazon Chief Financial Officer Brian Olsavsky. “That’s not meant to replace them, and those carriers are no longer able to handle all of our capacity that we need at peak. They have been, and continue to be great partners, and we look forward to working with them in the future.”
The stock decreased 7.61% or $48.35 during the last trading session, hitting $587. Approximately 16,528 shares traded hands. AMZN shares have risen 33.38% since June 25, 2015 and are currently uptrending. It has outperformed the S&P500 by 42.25%.
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 $900.0 while the lowest target price is $525. The mean of all analyst targets is $734.31 which is 25.10% above today’s ($587) stock price. Amazon.com was the topic of 64 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Susquehanna initiated shares on January 15 with a “Positive” rating. M Partners initiated shares with a”Buy” rating and a $800.0 target share price in their report from a December 15. Monness Crespi & Hardt downgraded AMZN stock in a recent report from January 4 to a “Neutral” rating. Barclays Capital maintained the rating on December 1. Barclays Capital has a “Overweight” rating and a $850 price target on shares. Finally, Macquarie Research maintained the stock with a “Outperform” rating in a report they issued on a December 22.
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 buys, and 11 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 $275.16 billion. The Firm sells a range of services and products through its Websites. It has 474.13 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.