Amazon.com (NASDAQ:AMZN) Shares Up 1.9% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price traded up 1.9% during trading on Tuesday after Benchmark raised their price target on the stock from $215.00 to $265.00. Benchmark currently has a buy rating on the stock. Amazon.com traded as high as $242.33 and last traded at $241.99. 9,264,263 shares changed hands during trading, a decline of 71% from the average session volume of 31,679,805 shares. The stock had previously closed at $237.42.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. 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. Susquehanna raised their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research note on Tuesday, December 3rd. Finally, Tigress Financial raised their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $252.56.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total value of $735,000.00. Following the sale, the chief executive officer now directly owns 524,567 shares of the company’s stock, valued at approximately $110,159,070. The trade was a 0.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Rubinstein sold 4,766 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $209.85, for a total value of $1,000,145.10. Following the transaction, the director now owns 94,630 shares of the company’s stock, valued at $19,858,105.50. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,027,340 shares of company stock worth $1,252,456,773. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several institutional investors have recently bought and sold shares of the company. Fiera Capital Corp increased its holdings in Amazon.com by 12.5% in the 2nd quarter. Fiera Capital Corp now owns 401,113 shares of the e-commerce giant’s stock worth $77,515,000 after buying an additional 44,615 shares in the last quarter. Commonwealth Retirement Investments LLC raised its holdings in shares of Amazon.com by 11.9% during the second quarter. Commonwealth Retirement Investments LLC now owns 4,685 shares of the e-commerce giant’s stock valued at $905,000 after purchasing an additional 500 shares during the last quarter. Gentry Private Wealth LLC bought a new position in Amazon.com during the second quarter valued at approximately $842,000. Valtinson Bruner Financial Planning LLC grew its position in Amazon.com by 23.4% in the 2nd quarter. Valtinson Bruner Financial Planning LLC now owns 5,342 shares of the e-commerce giant’s stock worth $1,032,000 after purchasing an additional 1,014 shares during the period. Finally, Patron Partners LLC grew its position in Amazon.com by 5.0% in the 2nd quarter. Patron Partners LLC now owns 29,500 shares of the e-commerce giant’s stock worth $5,701,000 after purchasing an additional 1,400 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

The firm has a market capitalization of $2.54 trillion, a PE ratio of 51.82, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $223.83 and its two-hundred day simple moving average is $198.98.

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.