Amazon.com (NASDAQ:AMZN) Sets New 1-Year High Following Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) hit a new 52-week high during trading 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 $229.74, with a volume of 4242589 shares. The stock had previously closed at $227.46.

Other equities research analysts have also recently issued reports about the company. TD Cowen increased their price objective on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Telsey Advisory Group upped their price objective on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Oppenheimer raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI upped their price objective on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Scotiabank upped their target price on shares of Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 1st. 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 stock. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $240.67.

Insider Activity

In other news, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its stake in Amazon.com by 20,897.2% during the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock worth $72,921,080,000 after purchasing an additional 38,949,065 shares in the last quarter. Parnassus Investments LLC grew its stake in shares of Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after purchasing an additional 11,391,479 shares in the last quarter. State Street Corp increased its holdings in Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after buying an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after buying an additional 6,545,944 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in Amazon.com by 13,606.7% during the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock worth $759,971,000 after buying an additional 3,903,889 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 0.8 %

The firm has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 49.50, a PEG 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 company has a 50-day moving average price of $203.67 and a 200-day moving average price of $190.54.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, research analysts forecast that Amazon.com, Inc. will post 5.29 EPS 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.