Amazon.com (NASDAQ:AMZN) Stock Price Up 1.6% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 1.6% on Tuesday after Raymond James raised their price target on the stock from $230.00 to $260.00. Raymond James currently has a strong-buy rating on the stock. Amazon.com traded as high as $230.99 and last traded at $229.57. Approximately 12,625,132 shares were traded during trading, a decline of 56% from the average daily volume of 28,738,660 shares. The stock had previously closed at $225.94.

Several other equities research analysts also recently commented on the company. HSBC boosted their target price on Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Rosenblatt Securities upped their price target on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley increased their target price on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company raised their price objective on Amazon.com from $197.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their target price on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.85.

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 on Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total value of $619,497,843.50. Following the completion of the transaction, the insider now directly owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently bought and sold shares of AMZN. MBM Wealth Consultants LLC boosted its holdings in shares of Amazon.com by 0.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock valued at $1,889,000 after acquiring an additional 48 shares in the last quarter. Semus Wealth Partners LLC boosted its holdings in Amazon.com by 0.3% during the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after buying an additional 49 shares in the last quarter. Bell Investment Advisors Inc grew its position in Amazon.com by 1.5% during the 3rd quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after purchasing an additional 51 shares in the last quarter. O Connor Financial Group LLC grew its position in Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after purchasing an additional 55 shares in the last quarter. Finally, Cherrydale Wealth Management LLC grew its position in Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

The firm’s 50-day simple moving average is $218.30 and its two-hundred day simple moving average is $196.47. The stock has a market capitalization of $2.43 trillion, a PE ratio of 49.38, a PEG ratio of 1.26 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 issued 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. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates 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 for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. On average, equities research analysts expect that Amazon.com, Inc. will post 5.39 earnings per share 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.