Amazon.com (NASDAQ:AMZN) Stock Price Up 1.4% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price traded up 1.4% 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 $197.07 and last traded at $196.41. 18,082,227 shares changed hands during trading, a decline of 57% from the average session volume of 42,201,281 shares. The stock had previously closed at $193.61.

Other analysts have also recently issued reports about the stock. Monness Crespi & Hardt increased their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Stifel Nicolaus increased their price objective on shares of Amazon.com from $224.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a report on Wednesday, May 1st. Raymond James increased their price objective on shares of Amazon.com from $200.00 to $205.00 and gave the stock a “strong-buy” rating in a report on Wednesday, May 1st. Finally, Loop Capital increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $215.74.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this link. In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred 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 sale, 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. Insiders sold a total of 65,338 shares of company stock worth $11,894,344 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

A number of hedge funds have recently made changes to their positions in AMZN. Skandinaviska Enskilda Banken AB publ raised 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 acquiring an additional 758,252 shares in the last quarter. King Wealth raised its position in 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 acquiring an additional 3,420 shares in the last quarter. Phillips Financial Management LLC raised its position in Amazon.com by 59.1% during the third quarter. Phillips Financial Management LLC now owns 6,057 shares of the e-commerce giant’s stock valued at $770,000 after acquiring an additional 2,251 shares in the last quarter. High Pines Wealth Management LLC raised its position in Amazon.com by 25.5% during the third quarter. High Pines Wealth Management LLC now owns 4,481 shares of the e-commerce giant’s stock valued at $570,000 after acquiring an additional 911 shares in the last quarter. Finally, Angeles Investment Advisors LLC raised its position in shares of Amazon.com by 41.8% in the third quarter. Angeles Investment Advisors LLC now owns 12,533 shares of the e-commerce giant’s stock valued at $1,593,000 after purchasing an additional 3,697 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

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

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 net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion for the quarter, compared to analyst estimates of $142.65 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, research analysts expect that Amazon.com, Inc. will post 4.72 EPS 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.