Amazon.com (NASDAQ:AMZN) Trading Up 0.9% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN) shares shot up 0.9% on Tuesday . The stock traded as high as $190.98 and last traded at $192.06. Approximately 10,969,840 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 39,817,160 shares. The stock had previously closed at $190.26.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler restated an “overweight” rating and set a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Telsey Advisory Group restated an “outperform” rating and issued a $275.00 target price on shares of Amazon.com in a report on Friday, February 7th. Wolfe Research lifted their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. UBS Group increased their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, Raymond James upped their target price on Amazon.com from $260.00 to $275.00 in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.53.

Amazon.com Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The business’s 50 day moving average price is $214.60 and its 200 day moving average price is $209.22. The firm has a market cap of $2.08 trillion, a PE ratio of 35.44, a PEG ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This represents a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 5,501 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the completion of the sale, the chief executive officer now owns 505,318 shares of the company’s stock, valued at approximately $115,434,843.92. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,298 shares of company stock worth $22,871,828. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Legacy Wealth Management LLC MS grew its holdings in Amazon.com by 153.3% in the 1st quarter. Legacy Wealth Management LLC MS now owns 24,594 shares of the e-commerce giant’s stock valued at $4,679,000 after buying an additional 14,886 shares in the last quarter. Lederer & Associates Investment Counsel CA grew its holdings in shares of Amazon.com by 3.9% in the first quarter. Lederer & Associates Investment Counsel CA now owns 23,138 shares of the e-commerce giant’s stock valued at $4,402,000 after purchasing an additional 863 shares during the period. Park National Corp OH increased its position in Amazon.com by 4.7% during the first quarter. Park National Corp OH now owns 180,013 shares of the e-commerce giant’s stock worth $34,249,000 after purchasing an additional 8,107 shares during the last quarter. Marcum Wealth LLC raised its stake in Amazon.com by 5.0% during the first quarter. Marcum Wealth LLC now owns 41,827 shares of the e-commerce giant’s stock worth $7,958,000 after purchasing an additional 1,998 shares during the period. Finally, Global Wealth Strategies & Associates raised its stake in Amazon.com by 30.7% during the first quarter. Global Wealth Strategies & Associates now owns 6,751 shares of the e-commerce giant’s stock worth $1,284,000 after purchasing an additional 1,587 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.