Amazon.com (NASDAQ:AMZN) Trading 1.6% Higher Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 1.6% on Monday after Raymond James raised their price target on the stock from $260.00 to $275.00. The company traded as high as $233.84 and last traded at $232.72. Approximately 13,630,193 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 34,928,742 shares. The stock had previously closed at $229.15.

Several other equities research analysts have also recently commented on AMZN. Sanford C. Bernstein lifted their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. DA Davidson boosted their price objective on Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a research report on Friday. Rosenblatt Securities increased their price objective on shares of Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen raised their price objective on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. boosted their price target on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $260.52.

Insider Activity at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,850 shares of company stock worth $6,168,581 in the last three months. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Generali Asset Management SPA SGR purchased a new stake in Amazon.com in the fourth quarter valued at approximately $82,032,000. Evoke Wealth LLC increased its stake in Amazon.com by 0.8% in the fourth quarter. Evoke Wealth LLC now owns 120,004 shares of the e-commerce giant’s stock valued at $26,328,000 after purchasing an additional 904 shares during the period. Horizon Investments LLC raised its holdings in shares of Amazon.com by 103.8% in the fourth quarter. Horizon Investments LLC now owns 92,547 shares of the e-commerce giant’s stock valued at $20,304,000 after buying an additional 47,139 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Amazon.com by 1.0% during the fourth quarter. Advisors Asset Management Inc. now owns 832,986 shares of the e-commerce giant’s stock worth $182,749,000 after buying an additional 7,946 shares during the period. Finally, Carlson Capital Management increased its position in Amazon.com by 7.5% in the 4th quarter. Carlson Capital Management now owns 10,178 shares of the e-commerce giant’s stock valued at $2,233,000 after acquiring an additional 710 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Up 1.7 %

The company has a market capitalization of $2.45 trillion, a PE ratio of 42.16, a P/E/G ratio of 1.36 and a beta of 1.15. 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 has a 50 day simple moving average of $226.93 and a two-hundred day simple moving average of $200.86.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. Research analysts expect that Amazon.com, Inc. will post 6.24 EPS for the current 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.