Amazon.com (NASDAQ:AMZN) Reaches New 12-Month High Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price reached a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from $235.00 to $275.00. Jefferies Financial Group currently has a buy rating on the stock. Amazon.com traded as high as $232.08 and last traded at $229.74, with a volume of 4242589 shares changing hands. The stock had previously closed at $227.46.

Several other research firms also recently commented on AMZN. Wedbush raised their target price on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Loop Capital lifted their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a research report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Finally, Robert W. Baird boosted their target price on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.76.

Insider Buying and Selling

In related news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’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 completion of the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors have recently bought and sold shares of the stock. Semus Wealth Partners LLC grew its holdings in shares of Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after buying an additional 49 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in shares of Amazon.com by 1.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after purchasing an additional 51 shares during the period. Meridian Investment Counsel Inc. boosted its position in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares during the period. O Connor Financial Group LLC increased its stake in Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after purchasing an additional 55 shares in the last quarter. Finally, Cherrydale Wealth Management LLC increased its stake in shares of Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after acquiring an additional 55 shares during the period. 72.20% of the stock is owned by institutional investors.

Amazon.com Trading Up 0.7 %

The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company’s 50-day moving average is $201.65 and its 200 day moving average is $189.78.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period last year, the business earned $0.85 earnings per share. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. Research analysts predict that Amazon.com, Inc. will post 5.29 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.