Amazon.com (NASDAQ:AMZN) Given “Overweight” Rating at Cantor Fitzgerald

Amazon.com (NASDAQ:AMZN)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They presently have a $270.00 price objective on the e-commerce giant’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 15.12% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Mizuho boosted 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 Tuesday, December 10th. Truist Financial increased their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird raised their price target on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Royal Bank of Canada raised their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Benchmark raised their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $247.72.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded up $3.82 during midday trading on Wednesday, hitting $234.53. 14,329,245 shares of the stock were exchanged, compared to its average volume of 29,756,539. The stock has a market cap of $2.47 trillion, a P/E ratio of 50.20, a PEG ratio of 1.26 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com has a twelve month low of $151.61 and a twelve month high of $235.44. The company has a 50 day moving average price of $218.73 and a 200-day moving average price of $196.68.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results 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. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.85 EPS. On average, research analysts forecast that Amazon.com will post 5.39 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the business’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 sale, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

Large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in Amazon.com by 3.3% in 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 purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its holdings in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Legal & General Group Plc increased its holdings in Amazon.com by 1.5% in the second 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock worth $10,678,217,000 after acquiring an additional 1,980,663 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors.

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.