Wells Fargo & Company Boosts Amazon.com (NASDAQ:AMZN) Price Target to $212.00

Amazon.com (NASDAQ:AMZN) had its price target increased by research analysts at Wells Fargo & Company from $197.00 to $212.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the e-commerce giant’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 5.08% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Wedbush upped their price target on Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Truist Financial boosted their target price 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. Roth Mkm upped their target price on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada increased their target price on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $245.65.

Amazon.com Price Performance

NASDAQ AMZN opened at $223.35 on Tuesday. Amazon.com has a 12-month low of $149.91 and a 12-month high of $233.00. The company has a 50 day moving average price of $217.02 and a two-hundred day moving average price of $195.74. The stock has a market capitalization of $2.35 trillion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

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. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.85 earnings per share. As a group, equities analysts predict that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com 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 sale, the chief executive officer now directly owns 518,911 shares in the company, 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 worth $1,253,456,822 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oak Ridge Investments LLC increased its position in shares of Amazon.com by 13.1% during the fourth quarter. Oak Ridge Investments LLC now owns 344,705 shares of the e-commerce giant’s stock worth $75,625,000 after buying an additional 39,800 shares during the period. J2 Capital Management Inc purchased a new position in shares of Amazon.com during the fourth quarter valued at approximately $1,115,000. HF Advisory Group LLC raised its holdings in shares of Amazon.com by 2.8% in the fourth quarter. HF Advisory Group LLC now owns 20,962 shares of the e-commerce giant’s stock valued at $4,599,000 after purchasing an additional 575 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in Amazon.com by 8.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 50,783 shares of the e-commerce giant’s stock worth $11,141,000 after acquiring an additional 3,976 shares during the period. Finally, Whitaker Myers Wealth Managers LTD. increased its holdings in Amazon.com by 8.9% during the fourth quarter. Whitaker Myers Wealth Managers LTD. now owns 7,087 shares of the e-commerce giant’s stock worth $1,555,000 after buying an additional 582 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.