Amazon.com, Inc. (AMZN) Shares Gap Down Following Weak Earnings

Amazon.com, Inc. (NASDAQ:AMZN)’s share price gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $1,079.86, but opened at $1,046.00. Amazon.com shares last traded at $1,020.04, with a volume of 7,704,706 shares trading hands.

The e-commerce giant reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.40 by $1.00. The business had revenue of $37.96 billion during the quarter, compared to analyst estimates of $37.18 billion. Amazon.com had a net margin of 1.28% and a return on equity of 9.38%. Amazon.com’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 earnings per share.

A number of equities analysts recently issued reports on the stock. UBS AG lowered shares of Amazon.com from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 25th. TheStreet lowered shares of Amazon.com from a “b-” rating to a “c+” rating in a report on Monday, July 10th. Tigress Financial reissued a “buy” rating on shares of Amazon.com in a report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Amazon.com in a report on Thursday, June 22nd. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $1,275.00 target price on shares of Amazon.com in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, forty-four have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,073.48.

In other news, CEO Jeffrey A. Wilke sold 4,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $969.73, for a total transaction of $3,878,920.00. Following the transaction, the chief executive officer now owns 10,000 shares of the company’s stock, valued at approximately $9,697,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey A. Wilke sold 710 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $987.39, for a total value of $701,046.90. Following the transaction, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $9,873,900. The disclosure for this sale can be found here. Insiders have sold a total of 10,890 shares of company stock worth $10,800,023 in the last ninety days. Insiders own 17.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Hengehold Capital Management LLC boosted its stake in shares of Amazon.com by 3.5% in the first quarter. Hengehold Capital Management LLC now owns 384 shares of the e-commerce giant’s stock worth $340,000 after buying an additional 13 shares during the period. Boston Advisors LLC boosted its stake in shares of Amazon.com by 11.8% in the first quarter. Boston Advisors LLC now owns 95,063 shares of the e-commerce giant’s stock worth $84,277,000 after buying an additional 10,014 shares during the period. CAPROCK Group Inc. boosted its stake in shares of Amazon.com by 9.2% in the first quarter. CAPROCK Group Inc. now owns 3,529 shares of the e-commerce giant’s stock worth $3,129,000 after buying an additional 298 shares during the period. Gulf International Bank UK Ltd boosted its stake in shares of Amazon.com by 2.0% in the first quarter. Gulf International Bank UK Ltd now owns 125,928 shares of the e-commerce giant’s stock worth $111,640,000 after buying an additional 2,505 shares during the period. Finally, Lynch & Associates IN bought a new stake in shares of Amazon.com during the first quarter worth about $225,000. 61.90% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $469.55 billion, a price-to-earnings ratio of 248.5923 and a beta of 1.48. The stock has a 50 day moving average price of $997.21 and a 200 day moving average price of $929.59.

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Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.

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