Imagine one day soon, walking out your front door as a drone swoops down from the sky and drops a package on your porch. That package was an item you just ordered from Amazon.com, Inc. (NASDAQ:AMZN) 30 minutes ago. If Amazon gets their way, this may be the case, sooner rather than later. Not only could we see Amazon branded drones in the sky, carrying packages to destinations all over the United States, but we could also see the company launching their very own more traditional shipping business — you know, one with large trucks and airplanes.
According to thehill.com Amazon spent 91% more on their lobbying efforts in 2015 than they did in 2014. This equated to about $9.44 million in expenses, and probably mostly involved efforts trying to convince law makers in Washington D.C. to create flight clearance for their delivery drones as well as their rumored shipping business.
Without a doubt, a drone delivery service would certainly bring Amazon.com, Inc. (NASDAQ:AMZN) more business. I know I’d order a package just to witness a drone delivering it to my house! While it probably won’t happen in 2016 or even 2017, the future may be quite bright for Amazon if they can get lawmakers on their side.
The stock is down 0.14% or $0.76 following the news, hitting $530.31 per share. Approximately 4.76M shares traded hands. AMZN shares have risen 22.34% since June 30, 2015 and are currently uptrending. It has outperformed the S&P500 by 29.64%.
From a total of 30 analysts covering Amazon.com (NASDAQ:AMZN) stock, 26 rate it a “Buy”, 0 a “Sell”, and 4 a “Hold”. This means that 87% 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 $727.45 which is 37.17% above today’s ($530.31) stock price. Amazon.com was the topic of 79 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. UBS maintained shares on January 29 with a “Buy” rating. Credit Suisse maintained shares with a”Outperform” rating and a $800 target share price in their report from a January 19. Mizuho maintained AMZN stock in a recent report from January 29 with a “Buy” rating. Susquehanna initiated the rating on January 18. Susquehanna has a “Positive” rating and a $900 price target on shares. Finally, RBC Capital Markets maintained the stock with a “Outperform” rating in a report they issued on a January 29.
The institutional sentiment increased to 1.49 in Q2 2015. It’s up 0.37, from 1.12 in 2015Q2. The ratio improved, 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 10 selling transactions for a total of $25.27 million in net activity. Stonesifer Patricia Q sold 6,250 shares worth $3.16M. 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 $1.11 million. 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 $247.86 billion. The Firm sells a range of services and products through its Websites. It has 427.62 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.