Amazon.com (NASDAQ:AMZN) Sets New 1-Year High Following Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) hit a new 52-week high during mid-day trading on Thursday 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 $196.15 and last traded at $194.96, with a volume of 6727429 shares changing hands. The stock had previously closed at $193.61.

AMZN has been the topic of several other reports. Argus lifted their target price on Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Monness Crespi & Hardt upped their price objective on Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price target on Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Raymond James upped their price target on shares of 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, UBS Group upped their price target on shares of Amazon.com from $215.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $215.74.

Insider Transactions at Amazon.com

In related news, Director Jonathan Rubinstein sold 5,264 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total value of $1,000,160.00. Following the completion of the transaction, the director now directly owns 104,400 shares of the company’s stock, valued at approximately $19,836,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were 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 owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 5,264 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the transaction, the director now directly owns 104,400 shares of the company’s stock, valued at $19,836,000. The disclosure for this sale can be found here. Insiders sold 65,338 shares of company stock worth $11,894,344 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. Skandinaviska Enskilda Banken AB publ boosted its position in Amazon.com by 28.3% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,442,258 shares of the e-commerce giant’s stock valued at $437,580,000 after buying an additional 758,252 shares during the period. King Wealth boosted its stake in shares of Amazon.com by 11.7% during the third quarter. King Wealth now owns 32,772 shares of the e-commerce giant’s stock valued at $4,166,000 after purchasing an additional 3,420 shares during the period. Phillips Financial Management LLC grew its holdings in shares of Amazon.com by 59.1% in the third quarter. Phillips Financial Management LLC now owns 6,057 shares of the e-commerce giant’s stock worth $770,000 after purchasing an additional 2,251 shares during the last quarter. High Pines Wealth Management LLC increased its stake in shares of Amazon.com by 25.5% in the third quarter. High Pines Wealth Management LLC now owns 4,481 shares of the e-commerce giant’s stock worth $570,000 after buying an additional 911 shares during the period. Finally, Angeles Investment Advisors LLC raised its holdings in Amazon.com by 41.8% during the 3rd quarter. Angeles Investment Advisors LLC now owns 12,533 shares of the e-commerce giant’s stock valued at $1,593,000 after buying an additional 3,697 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 2.2 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The firm’s 50 day moving average price is $183.13 and its 200 day moving average price is $172.43. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 55.55, a P/E/G ratio of 1.33 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The business had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same quarter in the prior year, the company posted $0.31 EPS. Amazon.com’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, equities research analysts expect that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal 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.