Amazon.com (NASDAQ:AMZN) Shares Up 1.8% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price rose 1.8% during mid-day trading on Monday after Wedbush raised their price target on the stock from $250.00 to $260.00. Wedbush currently has an outperform rating on the stock. Amazon.com traded as high as $228.84 and last traded at $228.32. Approximately 11,540,044 shares changed hands during trading, a decline of 51% from the average daily volume of 23,746,752 shares. The stock had previously closed at $224.19.

A number of other analysts also recently issued reports on the stock. Piper Sandler lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Bank of America lifted their target price on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Evercore ISI increased their price target on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Redburn Atlantic lifted their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Finally, Moffett Nathanson increased their target price on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Two equities research 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.com, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $243.67.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction dated 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 sale, the director now owns 99,396 shares in the company, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legend Financial Advisors Inc. lifted its position in Amazon.com by 3.2% during the 4th quarter. Legend Financial Advisors Inc. now owns 8,029 shares of the e-commerce giant’s stock worth $1,761,000 after acquiring an additional 251 shares during the period. Range Financial Group LLC raised its stake in shares of Amazon.com by 58.0% in the fourth quarter. Range Financial Group LLC now owns 2,504 shares of the e-commerce giant’s stock worth $549,000 after purchasing an additional 919 shares during the last quarter. One Wealth Capital Management LLC acquired a new stake in shares of Amazon.com during the fourth quarter worth about $4,270,000. Norway Savings Bank increased its holdings in Amazon.com by 1.0% in the 4th quarter. Norway Savings Bank now owns 28,029 shares of the e-commerce giant’s stock worth $6,149,000 after buying an additional 271 shares during the period. Finally, Birch Capital Management LLC raised its position in Amazon.com by 147.1% during the 4th quarter. Birch Capital Management LLC now owns 1,680 shares of the e-commerce giant’s stock worth $369,000 after buying an additional 1,000 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Down 2.4 %

The business’s 50-day simple moving average is $214.48 and its 200-day simple moving average is $194.73. The company has a market capitalization of $2.34 trillion, a PE ratio of 47.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

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