Amazon.com (NASDAQ:AMZN) Reaches New 52-Week High Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares hit a new 52-week high during trading on Monday after UBS Group raised their price target on the stock from $230.00 to $264.00. UBS Group currently has a buy rating on the stock. Amazon.com traded as high as $232.08 and last traded at $229.74, with a volume of 4242589 shares. The stock had previously closed at $227.46.

Several other analysts have also weighed in on AMZN. Rosenblatt Securities raised their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Roth Mkm raised their price objective on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Stifel Nicolaus raised their price objective on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.67.

Insider Transactions at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, 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 3.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 over the last three months. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently added to or reduced their stakes in the stock. SMART Wealth LLC lifted its position in Amazon.com by 41.1% in the 3rd quarter. SMART Wealth LLC now owns 7,317 shares of the e-commerce giant’s stock valued at $1,363,000 after acquiring an additional 2,132 shares in the last quarter. Legacy Wealth Management LLC MS increased its stake in Amazon.com by 75.7% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 12,922 shares of the e-commerce giant’s stock valued at $2,408,000 after buying an additional 5,567 shares during the last quarter. Alternative Investment Advisors LLC. increased its stake in Amazon.com by 2.2% in the 3rd quarter. Alternative Investment Advisors LLC. now owns 10,164 shares of the e-commerce giant’s stock valued at $1,894,000 after buying an additional 215 shares during the last quarter. DGS Capital Management LLC increased its stake in Amazon.com by 4.3% in the 3rd quarter. DGS Capital Management LLC now owns 25,410 shares of the e-commerce giant’s stock valued at $4,735,000 after buying an additional 1,039 shares during the last quarter. Finally, Copley Financial Group Inc. acquired a new stake in Amazon.com in the 3rd quarter valued at $705,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 2.4 %

The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The firm’s 50 day simple moving average is $202.70 and its 200-day simple moving average is $190.16. The stock has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 49.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its quarterly 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 net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same period in the previous year, the business earned $0.85 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Equities analysts expect that Amazon.com, Inc. will post 5.29 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.