Amazon.com (NASDAQ:AMZN) Trading 1.8% Higher After Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) traded up 1.8% during trading on Monday after Wedbush raised their price target on the stock from $250.00 to $260.00. Wedbush currently has an outperform rating on the stock. Amazon.com traded as high as $228.84 and last traded at $228.32. 11,540,044 shares were traded during mid-day trading, a decline of 51% from the average session volume of 23,746,752 shares. The stock had previously closed at $224.19.

Several other research firms also recently issued reports on AMZN. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a report on Monday, October 7th. Rosenblatt Securities increased their price target on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Pivotal Research began coverage on shares of Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective for the company. Tigress Financial increased their target price on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Roth Mkm increased their price objective on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two research 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.67.

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 in the last 90 days. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors have recently bought and sold shares of the stock. Chico Wealth RIA grew its stake in Amazon.com by 2.8% during the 2nd quarter. Chico Wealth RIA now owns 2,187 shares of the e-commerce giant’s stock valued at $423,000 after acquiring an additional 59 shares in the last quarter. Freedom Day Solutions LLC increased its holdings in shares of Amazon.com by 1.2% during the 2nd quarter. Freedom Day Solutions LLC now owns 26,678 shares of the e-commerce giant’s stock valued at $5,155,000 after acquiring an additional 304 shares during the last quarter. BigSur Wealth Management LLC boosted its position in Amazon.com by 14.9% during the second quarter. BigSur Wealth Management LLC now owns 36,970 shares of the e-commerce giant’s stock worth $7,144,000 after purchasing an additional 4,800 shares during the period. Hobbs Group Advisors LLC acquired a new position in Amazon.com during the second quarter valued at approximately $1,474,000. Finally, Focus Financial Network Inc. raised its position in shares of Amazon.com by 1.5% in the second quarter. Focus Financial Network Inc. now owns 310,657 shares of the e-commerce giant’s stock valued at $58,382,000 after purchasing an additional 4,458 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Up 1.5 %

The firm has a market capitalization of $2.39 trillion, a P/E ratio of 48.74, a P/E/G ratio of 1.54 and a beta of 1.14. 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 company’s fifty day moving average is $213.85 and its 200-day moving average is $194.50.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the business posted $0.85 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 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.