Amazon.com (NASDAQ:AMZN) Hits New 12-Month High After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price reached a new 52-week high on Tuesday after Roth Mkm raised their price target on the stock from $220.00 to $250.00. Roth Mkm currently has a buy rating on the stock. Amazon.com traded as high as $230.08 and last traded at $226.09, with a volume of 46768531 shares trading hands. The stock had previously closed at $227.03.

A number of other equities analysts also recently issued reports on AMZN. Royal Bank of Canada upped their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. Loop Capital increased their target price on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Susquehanna upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group upped their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $236.98.

Insider Activity

In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was 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 owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,030,183 shares of company stock worth $1,252,883,795 over the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

A number of hedge funds have recently added to or reduced their stakes in the business. Copley Financial Group Inc. acquired a new position in shares of Amazon.com in the 3rd quarter valued at about $705,000. Milestone Resources Group Ltd increased its holdings in Amazon.com by 31.9% during the 3rd quarter. Milestone Resources Group Ltd now owns 1,183,916 shares of the e-commerce giant’s stock worth $220,599,000 after purchasing an additional 286,141 shares during the last quarter. FFG Partners LLC increased its holdings in shares of Amazon.com by 0.3% in the 3rd quarter. FFG Partners LLC now owns 61,275 shares of the e-commerce giant’s stock valued at $11,417,000 after acquiring an additional 210 shares during the last quarter. Dantai Capital Ltd increased its holdings in shares of Amazon.com by 10.6% in the 3rd quarter. Dantai Capital Ltd now owns 30,415 shares of the e-commerce giant’s stock valued at $5,667,000 after acquiring an additional 2,925 shares during the last quarter. Finally, Boulder Wealth Advisors LLC bought a new stake in shares of Amazon.com in the 3rd quarter valued at approximately $239,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Down 0.4 %

The firm has a market capitalization of $2.38 trillion, a P/E ratio of 48.41, a P/E/G ratio of 1.52 and a beta of 1.16. The stock has a fifty day moving average price of $198.19 and a two-hundred day moving average price of $188.47. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. Research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

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.