Amazon.com (NASDAQ:AMZN) Trading 1.5% Higher – Time to Buy?

Shares of Amazon.com, Inc. (NASDAQ:AMZN) rose 1.5% on Wednesday . The stock traded as high as $212.31 and last traded at $212.08. Approximately 13,242,429 shares changed hands during trading, a decline of 68% from the average daily volume of 41,263,684 shares. The stock had previously closed at $208.91.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of recent research reports. Oppenheimer lifted their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen boosted their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Truist Financial raised their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Scotiabank lifted their price target on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.45.

Amazon.com Trading Down 1.2 %

The stock has a market cap of $2.22 trillion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm’s fifty day simple moving average is $189.87 and its 200-day simple moving average is $185.36.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 EPS. Equities research analysts expect that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This trade represents a 22.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,053,349 shares of company stock worth $1,256,503,289 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently bought and sold shares of the stock. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the last quarter. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the 3rd quarter worth $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the third quarter valued at about $56,000. Institutional investors 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.