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

Amazon.com, Inc. (NASDAQ:AMZN) shares hit a new 52-week high on Tuesday after Benchmark raised their price target on the stock from $215.00 to $265.00. Benchmark currently has a buy rating on the stock. Amazon.com traded as high as $241.83 and last traded at $241.41, with a volume of 7384339 shares traded. The stock had previously closed at $237.42.

Several other research firms have also recently issued reports on AMZN. The Goldman Sachs Group raised their price target on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Morgan Stanley lifted their target price on shares of Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. JMP Securities reissued a “market outperform” rating and set a $285.00 price target on shares of Amazon.com in a research note on Thursday, January 30th. Mizuho lifted their price objective on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Oppenheimer upped their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.56.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan Rubinstein sold 4,766 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the transaction, the director now directly owns 94,630 shares of the company’s stock, valued at $19,858,105.50. This trade represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,027,340 shares of company stock worth $1,252,456,773. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC boosted its stake in Amazon.com by 10.7% during the 4th quarter. Denali Advisors LLC now owns 135,656 shares of the e-commerce giant’s stock valued at $29,762,000 after purchasing an additional 13,075 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of Amazon.com by 7.8% during the fourth quarter. Lake Street Advisors Group LLC now owns 121,235 shares of the e-commerce giant’s stock worth $26,598,000 after buying an additional 8,757 shares during the period. JFG Wealth Management LLC grew its holdings in Amazon.com by 60.7% in the 4th quarter. JFG Wealth Management LLC now owns 9,415 shares of the e-commerce giant’s stock worth $2,066,000 after buying an additional 3,556 shares in the last quarter. Kirtland Hills Capital Management LLC increased its position in Amazon.com by 35.7% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 15,134 shares of the e-commerce giant’s stock valued at $3,320,000 after acquiring an additional 3,982 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in Amazon.com during the 4th quarter valued at $11,359,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Up 2.0 %

The company has a market cap of $2.55 trillion, a price-to-earnings ratio of 51.83, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15. The stock has a 50-day simple moving average of $224.55 and a 200-day simple moving average of $199.36. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

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.