Amazon.com (NASDAQ:AMZN) Trading 1% Higher After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 1% during mid-day trading on Friday after Wolfe Research raised their price target on the stock from $250.00 to $270.00. Wolfe Research currently has an outperform rating on the stock. Amazon.com traded as high as $225.36 and last traded at $222.50. Approximately 8,143,435 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 20,594,824 shares. The stock had previously closed at $220.22.

AMZN has been the topic of several other reports. Piper Sandler raised their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. TD Cowen lifted their price target on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. JMP Securities reiterated a “market outperform” rating and set a $285.00 price target on shares of Amazon.com in a report on Monday, December 16th. Redburn Atlantic raised their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two 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. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and an average target price of $243.44.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total value of $619,497,843.50. Following the transaction, the insider now directly owns 914,420,614 shares in the company, valued at $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last 90 days. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings 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 raised its position in shares of Amazon.com by 3.4% during the third 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 during the period. Legal & General Group Plc lifted its holdings in shares of 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 valued at $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after purchasing an additional 289,532 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 purchasing an additional 1,984,592 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

The stock’s 50-day moving average price is $211.67 and its 200 day moving average price is $193.59. The firm has a market cap of $2.34 trillion, a P/E ratio of 47.64, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The firm had revenue of $158.88 billion for 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 company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 EPS. As a group, equities 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.