Amazon.com (NASDAQ:AMZN) Trading 1.8% Higher – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN)’s share price shot up 1.8% during mid-day trading on Thursday . The stock traded as high as $225.15 and last traded at $223.24. 11,375,995 shares were traded during trading, a decline of 72% from the average session volume of 40,988,457 shares. The stock had previously closed at $219.39.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Maxim Group upped their target price on shares of Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Truist Financial increased their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Mizuho lifted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Tigress Financial increased their price target on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Rosenblatt Securities lifted their price objective on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Price Performance

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 stock has a market cap of $2.30 trillion, a PE ratio of 46.93, a PEG ratio of 1.54 and a beta of 1.16. The firm’s 50-day moving average price is $211.67 and its two-hundred day moving average price is $193.59.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. On average, equities analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com 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 completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its position in Amazon.com by 3.3% during 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 period. Geode Capital Management LLC grew its position in shares of Amazon.com by 3.4% during the 3rd 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 acquiring an additional 6,545,944 shares during the period. Legal & General Group Plc increased its stake in shares of Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after purchasing an additional 289,532 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after purchasing an additional 1,984,592 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.