Amazon.com (NASDAQ:AMZN) Price Target Raised to $221.00

Amazon.com (NASDAQ:AMZN) had its target price lifted by Rosenblatt Securities from $220.00 to $221.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

Several other research firms also recently issued reports on AMZN. Truist Financial boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a buy rating in a report on Monday, July 22nd. Benchmark reaffirmed a buy rating and issued a $200.00 target price on shares of Amazon.com in a report on Friday. Tigress Financial lifted their price objective on Amazon.com from $210.00 to $245.00 and gave the company a buy rating in a research report on Thursday, May 30th. Royal Bank of Canada reissued an outperform rating and issued a $215.00 price target on shares of Amazon.com in a report on Friday. Finally, Sanford C. Bernstein upped their price target on Amazon.com from $210.00 to $215.00 and gave the company an outperform rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $222.58.

Amazon.com Stock Down 4.1 %

Amazon.com stock opened at $161.02 on Friday. The firm has a fifty day moving average price of $187.12 and a two-hundred day moving average price of $179.92. Amazon.com has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The firm has a market cap of $1.68 trillion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now directly owns 503,753 shares in the company, valued at approximately $95,335,255.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Shelley Reynolds sold 2,700 shares of Amazon.com stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the sale, the vice president now owns 119,780 shares of the company’s stock, valued at $21,726,894.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the sale, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at approximately $95,335,255.25. The disclosure for this sale can be found here. Insiders sold a total of 6,111,990 shares of company stock worth $1,222,095,188 over the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Amazon.com during the fourth quarter worth about $17,700,551,000. International Assets Investment Management LLC grew its stake in shares of Amazon.com by 16,029.3% in the fourth quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after purchasing an additional 23,717,254 shares during the last quarter. Vanguard Group Inc. increased its holdings in Amazon.com by 1.9% in the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Swedbank AB bought a new position in Amazon.com during the 1st quarter worth $2,239,757,000. Finally, Capital World Investors lifted its holdings in Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the period. 72.20% of the stock is owned by institutional investors.

About Amazon.com

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.