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

Amazon.com, Inc. (NASDAQ:AMZN) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 83,920,000 shares, a decline of 9.4% from the September 30th total of 92,620,000 shares. Based on an average trading volume of 37,730,000 shares, the days-to-cover ratio is currently 2.2 days.

Amazon.com Trading Up 1.0 %

Shares of AMZN stock opened at $192.73 on Thursday. The company has a market capitalization of $2.02 trillion, a P/E ratio of 46.11, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $184.20 and its two-hundred day moving average is $183.64. Amazon.com has a twelve month low of $131.71 and a twelve month high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. Equities analysts forecast that Amazon.com will post 4.85 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,855 shares of company stock valued at $9,215,048. 10.80% of the stock is owned by company insiders.

Institutional Trading of Amazon.com

Hedge funds have recently made changes to their positions in the company. PayPay Securities Corp raised its stake in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at $45,000. Christopher J. Hasenberg Inc boosted its position in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in shares of Amazon.com during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMZN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Stifel Nicolaus reduced their price objective on Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Piper Sandler lowered their target price on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $236.76.

About Amazon.com

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.