Amazon.com (NASDAQ:AMZN) Stock Price Up 0.9% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares rose 0.9% during trading on Monday after Wells Fargo & Company raised their price target on the stock from $234.00 to $239.00. Wells Fargo & Company currently has an overweight rating on the stock. Amazon.com traded as high as $195.97 and last traded at $194.94. Approximately 12,365,820 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 42,690,953 shares. The stock had previously closed at $193.25.

Other equities analysts have also issued reports about the stock. Barclays lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Monness Crespi & Hardt lifted their price target on Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. DA Davidson reiterated a “buy” rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday, April 18th. Argus boosted their price objective on Amazon.com from $185.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Truist Financial lifted their price target on shares of Amazon.com from $216.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $215.86.

Insider Buying and Selling

In other Amazon.com news, Director Jonathan Rubinstein sold 5,264 shares of Amazon.com stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the sale, the director now directly owns 104,400 shares of the company’s stock, valued at approximately $19,836,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jonathan Rubinstein sold 5,264 shares of the company’s stock in a transaction 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 sale, the director now owns 104,400 shares in the company, valued at approximately $19,836,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares in the company, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. Insiders sold 61,838 shares of company stock valued at $11,261,789 in the last three months. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Several hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Amazon.com during the fourth quarter worth about $17,700,551,000. Vanguard Group Inc. raised its holdings in Amazon.com by 4.4% during the third quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after purchasing an additional 32,038,029 shares during the last quarter. International Assets Investment Management LLC boosted its position in Amazon.com by 16,029.3% during the fourth 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 purchasing an additional 23,717,254 shares in the last quarter. FMR LLC increased its position in shares of Amazon.com by 7.7% in the third quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after buying an additional 21,649,871 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Amazon.com during the 1st quarter worth $2,239,757,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The firm’s 50-day moving average is $183.87 and its 200 day moving average is $173.28. The firm has a market capitalization of $2.03 trillion, a PE ratio of 54.61, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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. The business 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 business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. As a group, research analysts forecast that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

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.