Amazon.com (NASDAQ:AMZN) Trading Up 2% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price was up 2% during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $210.00 to $220.00. Bank of America currently has a buy rating on the stock. Amazon.com traded as high as $190.26 and last traded at $190.07. Approximately 10,668,990 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 41,952,793 shares. The stock had previously closed at $186.34.

A number of other research analysts have also recently issued reports on the stock. Moffett Nathanson reissued a “buy” rating and set a $228.00 price target on shares of Amazon.com in a research report on Thursday, April 11th. Argus lifted their price target on shares of Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their target price on shares of Amazon.com from $217.00 to $234.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Needham & Company LLC restated a “buy” rating and set a $205.00 target price on shares of Amazon.com in a research report on Wednesday, May 15th. Finally, Evercore ISI lifted their price target on shares of Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $215.74.

Insider Buying and Selling at Amazon.com

In other news, VP Shelley Reynolds sold 2,700 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total value of $489,753.00. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $21,726,894.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP David Zapolsky sold 9,490 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.41, for a total value of $1,721,580.90. Following the completion of the sale, the senior vice president now directly owns 64,210 shares of the company’s stock, valued at $11,648,336.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 2,700 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The disclosure for this sale can be found here. Insiders have sold 65,338 shares of company stock worth $11,894,344 over the last quarter. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds have recently added to or reduced their stakes in AMZN. Collective Family Office LLC lifted its position in shares of Amazon.com by 9.7% during the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after buying an additional 819 shares during the last quarter. Members Trust Co raised its position in shares of Amazon.com by 8.9% in the 4th quarter. Members Trust Co now owns 4,157 shares of the e-commerce giant’s stock valued at $638,000 after purchasing an additional 341 shares during the last quarter. Cherrydale Wealth Management LLC increased its holdings in Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock worth $799,000 after buying an additional 675 shares during the period. Tompkins Financial Corp increased its holdings in Amazon.com by 3.3% in the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock worth $10,875,000 after buying an additional 2,273 shares during the period. Finally, Nicholas Company Inc. increased its holdings in Amazon.com by 3.9% in the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock worth $89,628,000 after buying an additional 26,465 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Up 3.9 %

The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 54.23, a P/E/G ratio of 1.33 and a beta of 1.14. The company’s fifty day moving average is $182.88 and its two-hundred day moving average is $172.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter last year, the company earned $0.31 EPS. The business’s revenue was up 12.5% on a year-over-year basis. On average, research analysts anticipate that Amazon.com, Inc. will post 4.72 EPS for the current year.

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.