Amazon CEO Douglas J. Herrington Sells Shares

On Monday, December 2nd, Douglas J. Herrington, the CEO of Amazon.com, Inc. (NASDAQ:AMZN), sold 3,500 shares of the company's stock. The shares were sold at an average price of $210.00, totaling $735,000.00. After this transaction, Herrington now directly owns 524,567 shares, which are valued at approximately $110,159,070. This sale reflects a decrease of 0.66% in his ownership position. Details of the sale were made available through a filing with the Securities and Exchange Commission.

Stock Movement and Performance

Following the news of the sale, the stock price showed some positive movement, trading up by $4.72 during mid-day trading on Wednesday to reach $218.16. The trading volume for the day was significant, with 48,679,234 shares exchanged compared to an average volume of 41,404,594. Amazon's market capitalization currently stands at $2.29 trillion, with a price-to-earnings ratio (PE) of 46.94 and a price-to-earnings-growth (PEG) ratio of 1.41. Over the past year, the stock has experienced a low of $143.13 and a high of $220.00.

Recent Earnings and Analyst Ratings

Amazon.com reported its quarterly earnings on October 31st, revealing earnings per share (EPS) of $1.43, surpassing analysts' expectations of $1.14. The company recorded revenue of $158.88 billion for that quarter, an increase of 11% from the previous year. Analysts anticipate that Amazon.com will achieve an EPS of 5.29 for the current year.

Analyst Recommendations

Several analysts have provided insights about Amazon's future. Needham & Company has reiterated a "buy" rating with a target price of $250. Meanwhile, DA Davidson set a price target of $235, also maintaining a "buy" rating. Wells Fargo has issued an "equal weight" rating with a target of $197. Additionally, UBS increased their target from $220 to $223, keeping a "buy" stance. Scotiabank has also raised its price objective from $245 to $246 while maintaining a "sector outperform" rating. Overall, Amazon holds a consensus rating of "Moderate Buy" with a target price of $236.20.

Institutional Investor Activity

Large institutional investors have been adjusting their holdings in Amazon. State Street Corp increased its stake by 3.3%, now owning about 359 million shares valued at over $66 billion. Similarly, Geode Capital raised its position by 3.4%, acquiring nearly 200 million shares worth $37 billion. Other firms, such as Capital Research and Legal & General, have also stepped up their investments, underscoring the growing interest in Amazon's stock among institutional investors.

About Amazon.com

Amazon.com, Inc. engages in the retail sale of consumer products and services through online and physical stores worldwide. The company operates across three primary segments: North America, International, and Amazon Web Services (AWS). Furthermore, Amazon manufactures and sells various electronic devices, such as Kindle and Fire devices, and produces media content as well.

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