Amazon.com (NASDAQ:AMZN) Given New $220.00 Price Target at Bank of America

Amazon.com (NASDAQ:AMZN) had its price target boosted by Bank of America from $210.00 to $220.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

A number of other research firms also recently commented on AMZN. Benchmark reaffirmed a buy rating and set a $200.00 price objective on shares of Amazon.com in a report on Wednesday, May 1st. Monness Crespi & Hardt lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company a buy rating in a report on Wednesday, May 1st. DA Davidson reissued a buy rating and issued a $235.00 target price on shares of Amazon.com in a report on Thursday, April 18th. Raymond James boosted their price target on Amazon.com from $200.00 to $205.00 and gave the company a strong-buy rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC reiterated a buy rating and set a $205.00 price objective on shares of Amazon.com in a research note on Wednesday, May 15th. One research analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of $215.74.

Amazon.com Price Performance

NASDAQ:AMZN opened at $193.61 on Wednesday. The company has a fifty day moving average price of $182.88 and a 200 day moving average price of $172.28. The stock has a market cap of $2.01 trillion, a P/E ratio of 54.23, a PEG ratio of 1.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. Amazon.com has a one year low of $118.35 and a one year high of $194.80.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results 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. The firm had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. Analysts anticipate that Amazon.com will post 4.72 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $184.00, for a total transaction of $92,000.00. Following the completion of the transaction, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,338 shares of company stock valued at $11,894,344. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Amazon.com in the fourth quarter worth $17,700,551,000. Vanguard Group Inc. lifted its position in Amazon.com by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after buying an additional 32,038,029 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Amazon.com by 16,029.3% during the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after buying an additional 23,717,254 shares during the last quarter. FMR LLC grew its holdings in shares of Amazon.com by 7.7% in the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after acquiring an additional 21,649,871 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Amazon.com in the first quarter valued at about $2,239,757,000. 72.20% of the stock is owned by institutional investors and hedge funds.

About Amazon.com

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.