Short Interest in Amazon.com, Inc. (NASDAQ:AMZN) Declines By 9.4%

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

Insider Buying and Selling

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. 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 accessible through this link. In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, 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 through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,855 shares of company stock worth $9,215,048. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares in the last quarter. Capital Research Global Investors increased its position in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after acquiring an additional 6,810,145 shares during the period. Legal & General Group Plc raised its stake in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after purchasing an additional 295,132 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $186.40 on Friday. Amazon.com has a fifty-two week low of $131.71 and a fifty-two week high of $201.20. The company has a 50 day moving average price of $184.40 and a 200 day moving average price of $183.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 44.59, a PEG ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced 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 business 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 research analysts forecast that Amazon.com will post 4.85 EPS for the current year.

Analyst Upgrades and Downgrades

AMZN has been the topic of several recent research reports. Sanford C. Bernstein upped their price objective on Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Truist Financial lifted their price target on Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wells Fargo & Company downgraded Amazon.com from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $225.00 to $183.00 in a research report on Monday, October 7th. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 target price on shares of Amazon.com in a report on Thursday, October 3rd. Finally, TD Cowen increased their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.