Amazon.com (NASDAQ:AMZN) Trading Up 1.5% on Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) shot up 1.5% during mid-day trading on Thursday after Argus raised their price target on the stock from $185.00 to $205.00. Argus currently has a buy rating on the stock. Amazon.com traded as high as $183.19 and last traded at $181.75. 17,024,916 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 43,856,266 shares. The stock had previously closed at $179.00.

A number of other brokerages also recently weighed in on AMZN. Truist Financial upped their price objective on shares of Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Amazon.com from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 price objective on shares of Amazon.com in a report on Wednesday. Mizuho upped their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Amazon.com from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $211.07.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 5,998,849 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the sale, the insider now directly owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the transaction, the insider now directly owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at approximately $20,239,226.60. The disclosure for this sale can be found here. Insiders have sold a total of 32,213,510 shares of company stock worth $5,505,811,286 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently modified their holdings of the company. Ridgecrest Wealth Partners LLC boosted its stake in Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after purchasing an additional 56 shares during the period. Stordahl Capital Management Inc. lifted its holdings in shares of Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares during the last quarter. Echo45 Advisors LLC boosted its position in shares of Amazon.com by 0.9% in the first quarter. Echo45 Advisors LLC now owns 6,619 shares of the e-commerce giant’s stock valued at $1,194,000 after acquiring an additional 59 shares during the period. ShoreHaven Wealth Partners LLC increased its position in Amazon.com by 1.9% during the fourth quarter. ShoreHaven Wealth Partners LLC now owns 3,234 shares of the e-commerce giant’s stock worth $491,000 after acquiring an additional 60 shares during the period. Finally, Boyd Wealth Management LLC raised its stake in Amazon.com by 1.7% during the 1st quarter. Boyd Wealth Management LLC now owns 3,655 shares of the e-commerce giant’s stock valued at $659,000 after purchasing an additional 60 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Trading Up 1.7 %

The business’s fifty day simple moving average is $178.59 and its two-hundred day simple moving average is $159.78. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 50.92, a P/E/G ratio of 1.53 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. Amazon.com had a return on equity of 20.73% and a net margin of 6.38%. The firm had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, analysts forecast that Amazon.com, Inc. will post 4.08 earnings per share 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.