Amazon.com (NASDAQ:AMZN) Reaches New 12-Month High on Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) hit a new 52-week high on Tuesday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $230.08 and last traded at $226.09, with a volume of 46768531 shares traded. The stock had previously closed at $227.03.

AMZN has been the topic of several other reports. Royal Bank of Canada lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley raised their price objective on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research note on Tuesday, December 3rd. Stifel Nicolaus boosted their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, DA Davidson reaffirmed a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.42.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,030,183 shares of company stock worth $1,252,883,795. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several institutional investors have recently modified their holdings of the business. Foundations Investment Advisors LLC increased its holdings in shares of Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares during the last quarter. Zhang Financial LLC grew its holdings in shares of Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock worth $9,520,000 after purchasing an additional 5,828 shares during the last quarter. BayBridge Capital Group LLC raised its position in Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after purchasing an additional 4,905 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Amazon.com by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares during the period. Finally, GAMMA Investing LLC grew its position in Amazon.com by 19.2% during the 3rd quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after purchasing an additional 19,231 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Down 0.5 %

The firm has a market capitalization of $2.37 trillion, a PE ratio of 48.19, a PEG ratio of 1.52 and a beta of 1.16. The business’s fifty day moving average price is $198.19 and its 200 day moving average price is $188.47. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities 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.