Shares of Amazon.com, Inc. (NASDAQ:AMZN) continue higher this morning as shares have hit a new all time high. The stock, which was up considerably yesterday, the first trading day since Christmas, continues higher today on strong ‘record-breaking’ sales numbers coming from the company as well as other sources. While Amazon.com, Inc. (NASDAQ:AMZN) reported record-breaking holiday sales, the credit card company, Mastercard, reported that holiday sales were up 8% over last year. Considering that a solid chunk of purchases, especially in the U.S. were made on Amazon this holoiday season, such an increase in credit card sales bodes very well for Amazon.com, Inc. (NASDAQ:AMZN) stock.
While the market cap of the company swells past $300 billion, and they continue to spend heavily, leading to a high PE ratio, investors seem to be gobbling up shares based on future earnings and not those of the present. The stock is currently trading higher by 1.84% or $12.43 following the positive news, hitting $687.63 per share at the time of us publishing this article. About 702,631 shares traded hands. AMZN has risen 58.70% since May 26, 2015 and is uptrending. It has outperformed the S&P500 by 60.96%.
From a total of 26 analysts covering Amazon.com (NASDAQ:AMZN) stock, 23 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 $726.35 which is 5.63% above today’s ($687.63) stock price. Amazon.com was the topic of 60 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Axiom Capital maintained shares on December 28 with a “Buy” rating. Barclays Capital maintained shares with a”Overweight” rating and a $850 target share price in their report from a December 1. M Partners initiated AMZN stock in a recent report from December 15 with a “Buy” rating. Canaccord Genuity maintained the rating on October 23. Canaccord Genuity has a “Hold” rating and a $600 price target on shares. Finally, Pacific Crest initiated the stock with a “Overweight” rating in a report they issued on a December 8.
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 buys, and 11 selling transactions 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 $3.16M. 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 $313.60 billion. The Firm sells a range of services and products through its Websites. It has 997.49 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.