Amazon.com (NASDAQ:AMZN) Stock Price Up 0.3% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 0.3% on Tuesday after Wells Fargo & Company raised their price target on the stock from $197.00 to $212.00. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com traded as high as $221.82 and last traded at $219.07. Approximately 7,138,555 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 27,058,551 shares. The stock had previously closed at $218.46.

AMZN has been the subject of several other research reports. Maxim Group lifted their price target on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Redburn Atlantic 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 report on Tuesday, November 26th. Wolfe Research lifted their price target on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Bank of America lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.65.

Insider Activity

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s 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 directly owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the sale, the chief executive officer now owns 524,567 shares in the company, valued at approximately $110,159,070. This represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Semus Wealth Partners LLC grew its holdings in shares of Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after purchasing an additional 49 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in Amazon.com by 1.5% in the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after buying an additional 51 shares in the last quarter. O Connor Financial Group LLC boosted its stake in Amazon.com by 2.2% in the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC boosted its stake in Amazon.com by 0.7% in the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after buying an additional 55 shares in the last quarter. Finally, Cedar Point Capital Partners LLC boosted its stake in Amazon.com by 4.4% in the third quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock worth $247,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The firm has a market cap of $2.35 trillion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a 50 day simple moving average of $217.02 and a 200-day simple moving average of $195.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

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