Amazon.com, Inc. (NASDAQ:AMZN) Sees Large Growth in Short Interest

Amazon.com, Inc. (NASDAQ:AMZN) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 83,770,000 shares, a growth of 9.3% from the October 31st total of 76,620,000 shares. Based on an average daily volume of 38,160,000 shares, the days-to-cover ratio is presently 2.2 days.

Insider Transactions at Amazon.com

In other news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares in the company, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors and hedge funds have recently modified their holdings of AMZN. International Assets Investment Management LLC increased its holdings in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after acquiring an additional 38,949,065 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB purchased a new stake in shares of Amazon.com in the first quarter worth about $2,239,757,000. Capital World Investors boosted its stake in Amazon.com by 64.6% during the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. Finally, Parnassus Investments LLC grew its holdings in Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after buying an additional 11,391,479 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

Amazon.com stock traded up $4.42 during mid-day trading on Wednesday, hitting $217.86. The stock had a trading volume of 24,287,418 shares, compared to its average volume of 41,295,188. Amazon.com has a one year low of $143.13 and a one year high of $220.00. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 46.94, a P/E/G ratio of 1.41 and a beta of 1.16. The firm’s 50 day moving average is $195.51 and its 200 day moving average is $187.34.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, sell-side analysts forecast that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMZN. Maxim Group raised their target price on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Sanford C. Bernstein boosted their target price on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen upped their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Truist Financial lifted their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.