Amazon.com (NASDAQ:AMZN) Stock Price Up 1.8% on Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) rose 1.8% during 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 were traded during trading, a decline of 51% from the average daily volume of 23,746,752 shares. The stock had previously closed at $224.19.

Several other analysts also recently weighed in on AMZN. Loop Capital boosted their price target on shares of Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. UBS Group increased their target price on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research note on Tuesday, December 10th. Piper Sandler increased their price objective on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Tigress Financial lifted their target price on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.67.

Insider Transactions at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 over the last quarter. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

A number of hedge funds have recently bought and sold shares of AMZN. International Assets Investment Management LLC increased its stake in shares of Amazon.com by 20,897.2% in 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 holdings in 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 valued at $2,125,148,000 after purchasing an additional 11,391,479 shares during the period. State Street Corp increased its position 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 worth $66,926,008,000 after buying an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $37,116,341,000 after buying an additional 6,545,944 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in shares of Amazon.com by 13,606.7% in the second 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 period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Down 2.4 %

The stock has a 50-day moving average price of $214.48 and a two-hundred day moving average price of $194.73. The stock has a market capitalization of $2.34 trillion, a PE ratio of 47.56, a PEG ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business 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 was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 earnings per share. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current 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.