Amazon.com (NASDAQ:AMZN) Sets New 12-Month High Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price reached a new 52-week high during mid-day trading on Wednesday after Loop Capital raised their price target on the stock from $225.00 to $275.00. Loop Capital currently has a buy rating on the stock. Amazon.com traded as high as $201.45 and last traded at $200.93, with a volume of 7925221 shares traded. The stock had previously closed at $199.50.

Several other research firms also recently commented on AMZN. Pivotal Research initiated coverage on shares of Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating and set a $236.00 price objective (up previously from $230.00) on shares of Amazon.com in a report on Friday, November 1st. Bank of America lifted their target price on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Evercore ISI boosted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group raised their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $234.55.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Amazon.com news, 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 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 approximately $12,171,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now directly owns 99,396 shares in the company, valued at approximately $19,864,290.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,859 shares of company stock valued at $10,215,097. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. Phillips Wealth Planners LLC grew its stake in Amazon.com by 9.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after buying an additional 224 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Amazon.com by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after acquiring an additional 14,766 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Amazon.com by 19.2% during the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock valued at $22,211,000 after acquiring an additional 19,231 shares in the last quarter. Stonekeep Investments LLC purchased a new position in shares of Amazon.com in the 2nd quarter valued at approximately $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Amazon.com by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock worth $203,677,000 after purchasing an additional 654,908 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The firm’s 50-day simple moving average is $186.48 and its two-hundred day simple moving average is $184.23. The company has a market cap of $2.17 trillion, a PE ratio of 44.34, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts anticipate that Amazon.com, Inc. will post 4.98 earnings per share for the current fiscal year.

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.