Amazon.com (NASDAQ:AMZN) Trading 1.5% Higher After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price traded up 1.5% during trading on Thursday after Argus raised their price target on the stock from $185.00 to $205.00. Argus currently has a buy rating on the stock. Amazon.com traded as high as $183.19 and last traded at $181.75. 17,024,916 shares were traded during mid-day trading, a decline of 61% from the average session volume of 43,856,266 shares. The stock had previously closed at $179.00.

A number of other equities analysts have also recently commented on AMZN. Robert W. Baird lifted their price target on Amazon.com from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday. Mizuho lifted their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday. Truist Financial lifted their price target on Amazon.com from $216.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. Roth Mkm reissued a “buy” rating and set a $210.00 target price (up from $205.00) on shares of Amazon.com in a research note on Wednesday. Finally, Maxim Group reduced their target price on Amazon.com from $318.00 to $238.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Buy” and an average target price of $211.07.

Insider Buying and Selling at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the transaction, the chief executive officer now owns 131,600 shares in the company, valued at approximately $24,214,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the transaction, the chief executive officer now owns 131,600 shares in the company, valued at approximately $24,214,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the transaction, the insider now owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,217,010 shares of company stock worth $5,506,442,301. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cherrydale Wealth Management LLC raised its stake in Amazon.com by 14.7% during the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock worth $799,000 after acquiring an additional 675 shares during the period. Tompkins Financial Corp grew its holdings in Amazon.com by 3.3% during the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after buying an additional 2,273 shares in the last quarter. Nicholas Company Inc. grew its holdings in Amazon.com by 3.9% during the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after buying an additional 26,465 shares in the last quarter. Nordea Investment Management AB grew its holdings in Amazon.com by 5.4% during the 4th quarter. Nordea Investment Management AB now owns 5,397,520 shares of the e-commerce giant’s stock valued at $825,065,000 after buying an additional 277,631 shares in the last quarter. Finally, Foresight Capital Management Advisors Inc. purchased a new stake in Amazon.com during the 4th quarter valued at approximately $1,891,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The business’s fifty day simple moving average is $178.79 and its 200-day simple moving average is $159.95. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.84 and a current ratio of 1.07. The firm has a market capitalization of $1.93 trillion, a PE ratio of 52.16, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same period last year, the firm posted $0.31 earnings per share. Amazon.com’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, equities research analysts expect that Amazon.com, Inc. will post 4.12 EPS 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.