Amazon.com (NASDAQ:AMZN) Shares Up 0.9% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shot up 0.9% on Monday after UBS Group raised their price target on the stock from $230.00 to $264.00. UBS Group currently has a buy rating on the stock. Amazon.com traded as high as $232.08 and last traded at $229.57. 8,248,544 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 41,119,066 shares. The stock had previously closed at $227.46.

AMZN has been the subject of several other reports. JPMorgan Chase & Co. upped their target price on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Rosenblatt Securities raised their price objective on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Roth Mkm lifted their target price on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Mizuho increased their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Finally, Stifel Nicolaus lifted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.67.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently bought and sold shares of AMZN. Icon Wealth Advisors LLC grew its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp boosted its stake in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com during the third quarter worth $45,000. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the third quarter worth $56,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

The stock has a market cap of $2.43 trillion, a P/E ratio of 49.50, a P/E/G ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business has a 50 day simple moving average of $203.67 and a 200-day simple moving average of $190.54.

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, topping 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 business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts forecast 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.