Amazon.com (NASDAQ:AMZN) Trading Up 1.7% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price rose 1.7% during trading on Thursday after Sanford C. Bernstein raised their price target on the stock from $235.00 to $265.00. Sanford C. Bernstein currently has an outperform rating on the stock. Amazon.com traded as high as $225.61 and last traded at $224.30. Approximately 10,892,030 shares were traded during trading, a decline of 74% from the average daily volume of 41,107,539 shares. The stock had previously closed at $220.52.

Other research analysts also recently issued reports about the company. 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 note on Friday, November 1st. Evercore ISI raised their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Loop Capital increased their price target on shares of Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Mizuho boosted their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.00.

Insiders Place Their Bets

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Semus Wealth Partners LLC raised its position in shares of Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after purchasing an additional 49 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in shares of Amazon.com by 1.5% during the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after buying an additional 51 shares during the period. Meridian Investment Counsel Inc. grew its holdings in shares of Amazon.com by 1.8% during the second 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 last quarter. O Connor Financial Group LLC raised its stake in Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after acquiring an additional 55 shares during the last quarter. Finally, Cherrydale Wealth Management LLC lifted its position in Amazon.com by 0.7% during the 3rd 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 and hedge funds.

Amazon.com Trading Up 1.6 %

The company has a 50 day simple moving average of $204.37 and a two-hundred day simple moving average of $190.75. 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 has a market cap of $2.36 trillion, a PE ratio of 47.97, a P/E/G ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm 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%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.