Amazon.com (NASDAQ:AMZN) Trading Up 2.2% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) was up 2.2% during trading on Tuesday after Moffett Nathanson raised their price target on the stock from $235.00 to $248.00. Moffett Nathanson currently has a buy rating on the stock. Amazon.com traded as high as $201.95 and last traded at $201.45. Approximately 40,685,672 shares changed hands during trading, a decline of 2% from the average daily volume of 41,550,199 shares. The stock had previously closed at $197.12.

Other analysts have also issued research reports about the stock. Piper Sandler lifted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Roth Mkm increased their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group raised their target price on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $197.00 price target on shares of Amazon.com in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.20.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $209.85, for a total value of $1,000,145.10. Following the completion of the transaction, the director now owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,026,683 shares of company stock worth $1,252,148,795 over the last quarter. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors and hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of Amazon.com by 31.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after acquiring an additional 43,759 shares in the last quarter. Quent Capital LLC raised its stake in Amazon.com by 3.3% in the first quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock valued at $6,084,000 after purchasing an additional 1,081 shares in the last quarter. Meeder Asset Management Inc. lifted its position in Amazon.com by 44.0% during the first quarter. Meeder Asset Management Inc. now owns 207,028 shares of the e-commerce giant’s stock valued at $37,344,000 after purchasing an additional 63,291 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in Amazon.com by 14.8% during the first quarter. Meeder Advisory Services Inc. now owns 114,940 shares of the e-commerce giant’s stock valued at $20,733,000 after purchasing an additional 14,815 shares during the last quarter. Finally, Verus Capital Partners LLC grew its stake in Amazon.com by 2.9% in the 1st quarter. Verus Capital Partners LLC now owns 408,608 shares of the e-commerce giant’s stock worth $73,705,000 after buying an additional 11,536 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 3.2 %

The stock’s fifty day moving average price is $193.75 and its 200 day moving average price is $186.52. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.19 trillion, a P/E ratio of 44.51, a price-to-earnings-growth ratio of 1.32 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that Amazon.com, Inc. will post 5.29 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.