Amazon.com (NASDAQ:AMZN) Trading Up 1.5% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) rose 1.5% on Wednesday after Raymond James raised their price target on the stock from $230.00 to $260.00. Raymond James currently has a strong-buy rating on the stock. Amazon.com traded as high as $235.44 and last traded at $234.24. Approximately 13,126,192 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 29,686,242 shares. The stock had previously closed at $230.71.

Other equities analysts have also recently issued research reports about the company. Susquehanna upped their price target on Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Maxim Group upped their target price on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial lifted their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird upped their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Tigress Financial lifted their target price on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $247.72.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock valued at $1,253,456,822 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

Institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its position in shares of Amazon.com by 0.6% during the 2nd quarter. Signaturefd LLC now owns 262,511 shares of the e-commerce giant’s stock valued at $50,730,000 after acquiring an additional 1,644 shares during the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Amazon.com during the second quarter worth $31,840,000. Key Financial Inc lifted its holdings in shares of Amazon.com by 0.8% during the second quarter. Key Financial Inc now owns 26,736 shares of the e-commerce giant’s stock valued at $5,167,000 after purchasing an additional 211 shares during the last quarter. Boston Financial Mangement LLC boosted its position in shares of Amazon.com by 0.5% in the 2nd quarter. Boston Financial Mangement LLC now owns 197,587 shares of the e-commerce giant’s stock valued at $38,184,000 after purchasing an additional 975 shares during the period. Finally, Atlas Capital Advisors LLC increased its stake in Amazon.com by 631.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 45,715 shares of the e-commerce giant’s stock worth $8,834,000 after purchasing an additional 39,464 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Up 1.9 %

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 stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 50.32, a P/E/G ratio of 1.26 and a beta of 1.14. The company has a fifty day simple moving average of $218.73 and a 200-day simple moving average of $196.68.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts forecast that Amazon.com, Inc. will post 5.39 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.