In what some would call one of Amazon.com, Inc’s (NASDAQ:AMZN) biggest arguments to become a Prime subscriber yet, the company has just announced that Amazon Prime members will receive 20% off new video game releases simply for being a member.
The discount will be for all video game pre-orders for physical, newly released games, and best of all, the discount will extend from the pre-order period until two weeks after each game’s official release date. According to Amazon.com, Inc. (NASDAQ:AMZN) the discount will be applied automatically at checkout and extended to all existing Prime member preorders.
Whether or not Amazon is taking a loss in order to attract new Prime members is not known, but this perk certainly seems to be a good one if you are a video game enthusiast like myself. The stock is currently trading higher by 0.36% or $2.22 following the positive news, hitting $619.96 per share at the time of us publishing this article. About 3.90M shares traded hands. AMZN has risen 45.87% since June 8, 2015 and is uptrending. It has outperformed the S&P500 by 53.35%.
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 $727.12 which is 17.28% above today’s ($619.96) stock price. Amazon.com was the topic of 62 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Credit Suisse maintained shares on January 12 with a “Outperform” rating. Barclays Capital maintained shares with a”Overweight” rating and a $850 target share price in their report from a December 1. Axiom Capital maintained AMZN stock in a recent report from December 28 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, M Partners initiated the stock with a “Buy” rating in a report they issued on a December 15.
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 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 $3.16 million. 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 $1.23M.
Amazon.com, Inc. is an e-commerce company. The company has a market cap of $290.30 billion. The Firm sells a range of services and products through its Websites. It has 899.33 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.