Remember when Amazon.com, Inc. (NASDAQ:AMZN) was simply an online retailer of goods? Remember when they actually had some strict competition in that marketplace? Remember when shares of the stock traded at less than $290 a share? Perhaps you do, or perhaps you don’t but one thing is for sure, investors have been flocking toward this stock since the beginning of the year. Now Amazon.com, Inc. (NASDAQ:AMZN) CEO, Jeff Bezos has another goal that should, if accomplished boost the stock even further into the stratosphere.
Bezos now wants to produce 16 movies and win an Oscar award in 2016. Not bad for an online marketplace, huh? We all know that Amazon.com, Inc. (NASDAQ:AMZN) has always set lofty goals, some which people question from the start, yet still manage to become a success. One thing is for certain though, if Amazon is able to win an Oscar award, and go on to produce 16 movies this coming year, we can surely expect to see a great increase in revenue, leading to higher stock prices in 2016. If they fail, however, 2016 could become a bearish year for the company.
The stock is up 1.56% or $10.36, hitting $673.15 per share. About 2.25 million shares traded hands. AMZN has risen 54.99% since May 22, 2015 and is uptrending. It has outperformed the S&P500 by 57.26%.
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 7.37% above today’s ($673.15) 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 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 11 insider sales for a total of $27.04 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 $1.11 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 $311.48 billion. The Firm sells a range of services and products through its Websites. It has 976.49 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.