Amazon.com (NASDAQ:AMZN) Trading 0.6% Higher – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN) shot up 0.6% on Friday . The stock traded as high as $188.86 and last traded at $188.67. 7,919,981 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 41,183,785 shares. The stock had previously closed at $187.53.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Scotiabank started coverage on Amazon.com in a report on Friday, October 11th. They set a “sector outperform” rating and a $245.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Amazon.com from $228.00 to $224.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Roth Mkm raised their price target on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wells Fargo & Company cut shares of Amazon.com from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $225.00 to $183.00 in a research report on Monday, October 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Amazon.com from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.78.

Amazon.com Price Performance

The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The stock’s 50 day moving average price is $181.98 and its two-hundred day moving average price is $183.42. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Equities research analysts forecast that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the sale, the chief executive officer now owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the transaction, the chief executive officer now owns 503,753 shares in the company, valued at $95,335,255.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. PayPay Securities Corp raised its position in Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP acquired a new position in shares of Amazon.com during the 3rd quarter worth about $37,000. Christopher J. Hasenberg Inc lifted its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock valued at $58,000 after buying an additional 260 shares in the last quarter. Steph & Co. acquired a new stake in Amazon.com in the 1st quarter worth about $65,000. Finally, Koesten Hirschmann & Crabtree INC. purchased a new stake in Amazon.com during the 1st quarter worth approximately $69,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.