Benchmark Raises Amazon.com (NASDAQ:AMZN) Price Target to $265.00

Amazon.com (NASDAQ:AMZN) had its price target boosted by equities research analysts at Benchmark from $215.00 to $265.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Benchmark’s price target would indicate a potential upside of 12.21% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group lifted their price objective on Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday, December 16th. TD Cowen raised their price target on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Truist Financial upped their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Oppenheimer raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Loop Capital upped their price target on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $252.56.

Amazon.com Stock Performance

AMZN opened at $236.17 on Tuesday. The firm’s fifty day simple moving average is $225.24 and its two-hundred day simple moving average is $199.78. Amazon.com has a 52-week low of $151.61 and a 52-week high of $242.52. The company has a market cap of $2.48 trillion, a price-to-earnings ratio of 50.57, a PEG ratio of 1.35 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Insider Transactions at Amazon.com

In related news, 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 value of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,022,574 shares of company stock valued at $1,251,456,628. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Large investors have recently bought and sold shares of the business. International Assets Investment Management LLC increased its stake in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares in the last quarter. Parnassus Investments LLC increased its stake in shares of Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after acquiring an additional 11,391,479 shares during the period. State Street Corp raised its holdings in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.