Amazon.com (NASDAQ:AMZN) Stock Price Up 1.9% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price shot up 1.9% during mid-day trading 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 $242.33 and last traded at $241.99. 9,264,263 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 31,679,805 shares. The stock had previously closed at $237.42.

Other analysts also recently issued reports about the stock. Piper Sandler raised their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Moffett Nathanson raised their price objective on shares of Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a research note on Tuesday, January 21st. Oppenheimer lifted their price target on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group boosted their price target on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $252.56.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $206.75, for a total value of $619,497,843.50. Following the sale, the insider now owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,027,340 shares of company stock valued at $1,252,456,773. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake 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 acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its position in Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Legal & General Group Plc increased its position in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Amazon.com by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock valued at $14,719,407,000 after purchasing an additional 545,292 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after buying an additional 1,984,592 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 2.0 %

The business’s 50 day simple moving average is $224.55 and its two-hundred day simple moving average is $199.36. The stock has a market cap of $2.55 trillion, a P/E ratio of 51.83, 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.

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.