Amazon.com (NASDAQ:AMZN) Given New $273.00 Price Target at Citigroup

Amazon.com (NASDAQ:AMZN) had its target price cut by Citigroup from $275.00 to $273.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

Other research analysts have also issued reports about the stock. Redburn Atlantic lifted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Truist Financial lifted their price target on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company dropped their price objective on Amazon.com from $212.00 to $207.00 and set an “equal weight” rating on the stock in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $265.00 target price (up previously from $225.00) on shares of Amazon.com in a report on Friday. Finally, Roth Mkm upped their price target on Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $260.20.

Amazon.com Trading Down 4.1 %

Shares of AMZN opened at $229.15 on Friday. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The business has a 50-day moving average of $226.51 and a 200 day moving average of $200.30. The firm has a market cap of $2.41 trillion, a P/E ratio of 49.07, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15. 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 earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. As a group, research analysts forecast that Amazon.com will post 5.3 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction 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 sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the transaction, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,026,212 shares of company stock valued at $625,666,424 in the last ninety days. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several large investors have recently modified their holdings of the business. State Street Corp raised its holdings in shares of Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its position in Amazon.com by 3.4% during the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares during the period. Legal & General Group Plc raised its holdings in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Amazon.com by 0.8% in the 4th quarter. Bank of New York Mellon Corp now owns 67,092,427 shares of the e-commerce giant’s stock worth $14,719,407,000 after purchasing an additional 545,292 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Amazon.com by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,638,207 shares of the e-commerce giant’s stock valued at $13,084,026,000 after purchasing an additional 2,330,113 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

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.