, Inc. (AMZN) Now Offering Refunds for All “Hoverboards”


This Christmas, my wife purchased me a “Hoverboard”, you know those segway-like scooters that do not hover at all. Since then, I must admit I have had a ton of fun, and am very grateful of her thoughtful gift. However, at the same time I am extra careful with riding it and I am always sure to charge the scooter only when I’m around to put out a possible fire.

This is because these hoverboards have been shown to catch on fire, smoke, and even explode in some cases, and, Inc. (NASDAQ:AMZN) isn’t taking any chances. Today it’s been announcd that the company will issue a full refund for any hoverboard sold on their site to US and Canadian residents. This, more than like, is in response to an ongoing US Consumer Product Saftety Commission investigation into not only fires but also accidental falls. Apparently there have been some falls that have taken place due to faulty construction and design of these hoverboards. This on top of the 39 reported fires, has the CPSC on high alert.

“At first glance, it is easy to believe the risk of falling off a hoverboard is an obvious one and to dismiss those injuries as user inexperience or error,” said CPSC chairman Elliot F. Kaye in a statement. “However, I am concerned, for example, that the current designs of these products might not take fully into consideration the different weights of different users, potentially leading to the units speeding up or lurching.”

Funny thing is though that Amazon is still selling some hoverboards on their site, although we are not sure if perhaps these have been CPSC approved boards or if they are merely hoping that people don’t take them up on the refund offer.The stock is up 1.85% or $10.58 following the news, hitting $582.35 per share. About 2.39 million shares traded hands. AMZN has risen 33.82% since June 16, 2015 and is uptrending. It has outperformed the S&P500 by 42.69%.

From a total of 26 analysts covering (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 26.09% above today’s ($582.35) stock price. 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 improved, as 67 funds sold all their, 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, 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 $3.16M. 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 $1.11 million. The insider Zapolsky David sold 2,322 shares worth $1.23 million., Inc. is an e-commerce company. The company has a market cap of $268.45 billion. The Firm sells a range of services and products through its Websites. It has 844.78 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.