Amazon.com (NASDAQ:AMZN) Shares Up 1.9% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN) was up 1.9% on Friday . The stock traded as high as $190.45 and last traded at $189.83. Approximately 9,395,362 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 40,892,000 shares. The stock had previously closed at $186.38.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Maxim Group lifted their target price on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Wells Fargo & Company downgraded Amazon.com from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $225.00 to $183.00 in a report on Monday, October 7th. TD Securities raised their target price on Amazon.com from $225.00 to $245.00 in a report on Wednesday, July 10th. Scotiabank began coverage on Amazon.com in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $245.00 price target for the company. Finally, Sanford C. Bernstein boosted their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Amazon.com Stock Performance

The company’s fifty day simple moving average is $183.29 and its 200 day simple moving average is $183.56. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 53.17, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, equities research analysts expect that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the transaction, the chief executive officer now owns 503,753 shares in the company, valued at approximately $95,335,255.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock worth $9,877,423 in the last ninety days. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of large investors have recently bought and sold shares of AMZN. Argyle Capital Management Inc. lifted its stake in Amazon.com by 13.3% during the third quarter. Argyle Capital Management Inc. now owns 1,699 shares of the e-commerce giant’s stock worth $317,000 after purchasing an additional 199 shares during the last quarter. Hedeker Wealth LLC raised its holdings in shares of Amazon.com by 1.6% during the 3rd quarter. Hedeker Wealth LLC now owns 72,337 shares of the e-commerce giant’s stock worth $13,478,000 after buying an additional 1,107 shares in the last quarter. Strategic Blueprint LLC lifted its position in shares of Amazon.com by 3.1% during the 3rd quarter. Strategic Blueprint LLC now owns 106,799 shares of the e-commerce giant’s stock worth $19,900,000 after buying an additional 3,260 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its stake in Amazon.com by 4.7% in the third quarter. Farmers & Merchants Investments Inc. now owns 126,936 shares of the e-commerce giant’s stock valued at $23,652,000 after buying an additional 5,675 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. grew its position in Amazon.com by 36.4% in the third quarter. Cutter & CO Brokerage Inc. now owns 32,417 shares of the e-commerce giant’s stock valued at $6,040,000 after acquiring an additional 8,647 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.