Amazon.com (NASDAQ:AMZN) Given New $239.00 Price Target at Wells Fargo & Company

Amazon.com (NASDAQ:AMZN) had its price target upped by Wells Fargo & Company from $234.00 to $239.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the e-commerce giant’s stock.

Several other research firms have also issued reports on AMZN. Morgan Stanley increased their price objective on shares of Amazon.com from $215.00 to $220.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. The Goldman Sachs Group boosted their price objective on Amazon.com from $220.00 to $225.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. JMP Securities reiterated a market outperform rating and issued a $225.00 target price on shares of Amazon.com in a research note on Wednesday, May 1st. Rosenblatt Securities reissued a buy rating and set a $220.00 price target on shares of Amazon.com in a research report on Wednesday, May 1st. Finally, Truist Financial lifted their price objective on shares of Amazon.com from $216.00 to $220.00 and gave the company a buy rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of Buy and a consensus price target of $215.86.

Amazon.com Stock Down 2.3 %

Shares of AMZN opened at $193.25 on Friday. Amazon.com has a fifty-two week low of $118.35 and a fifty-two week high of $199.84. The company’s fifty day moving average is $183.87 and its two-hundred day moving average is $172.93. The firm has a market cap of $2.01 trillion, a PE ratio of 54.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue was up 12.5% on a year-over-year basis. Analysts forecast that Amazon.com will post 4.72 earnings per share for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at approximately $92,767,524.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at approximately $92,767,524.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total value of $3,771,048.96. Following the completion of the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The disclosure for this sale can be found here. Insiders sold 65,338 shares of company stock worth $11,894,344 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Cooksen Wealth LLC purchased a new stake in shares of Amazon.com during the fourth quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Amazon.com by 45.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 86 shares during the period. Strid Group LLC purchased a new stake in Amazon.com during the fourth quarter valued at about $43,000. Harbor Investment Advisory LLC boosted its holdings in shares of Amazon.com by 0.7% in the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 1,988 shares during the period. Finally, Clarity Asset Management Inc. purchased a new position in shares of Amazon.com in the fourth quarter worth approximately $46,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.