Amazon.com (NASDAQ:AMZN) Trading 0.9% Higher on Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) traded up 0.9% 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 $229.57. 8,248,544 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 41,119,066 shares. The stock had previously closed at $227.46.

Several other research firms have also recently weighed in on AMZN. Monness Crespi & Hardt upped their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Loop Capital upped their price objective on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley upped their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research 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, the company has an average rating of “Moderate Buy” and a consensus price target of $240.67.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,034,534 shares of company stock worth $1,253,883,872 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC raised its position in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp raised its position in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com in the 3rd quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com in the 3rd quarter worth about $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 2.4 %

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

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm 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%. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, equities analysts anticipate that Amazon.com, Inc. will post 5.29 EPS 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.