Amazon.com (NASDAQ:AMZN) Stock Price Up 2.9% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares traded up 2.9% during trading on Monday after Roth Mkm raised their price target on the stock from $220.00 to $250.00. Roth Mkm currently has a buy rating on the stock. Amazon.com traded as high as $227.15 and last traded at $227.03. 44,178,069 shares traded hands during trading, an increase of 13% from the average session volume of 39,087,448 shares. The stock had previously closed at $220.55.

A number of other research analysts also recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. Pivotal Research initiated coverage on Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 target price on the stock. Piper Sandler upped their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Bank of America lifted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada boosted their price objective on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research 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.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $236.98.

Insider Activity

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total transaction of $735,000.00. Following the transaction, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,030,183 shares of company stock valued at $1,252,883,795 in the last 90 days. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds have recently modified their holdings of AMZN. International Assets Investment Management LLC increased its position in shares of Amazon.com by 20,897.2% during the third 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 acquiring an additional 38,949,065 shares in the last quarter. Swedbank AB acquired a new position in Amazon.com in the 1st quarter worth $2,239,757,000. Parnassus Investments LLC increased its holdings in Amazon.com by 82,457.3% during the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after purchasing an additional 11,391,479 shares in the last quarter. State Street Corp raised its stake in shares of Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 valued at $37,116,341,000 after purchasing an additional 6,545,944 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Up 2.9 %

The firm has a 50-day moving average price of $197.39 and a two-hundred day moving average price of $188.15. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 48.61, a PEG ratio of 1.52 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the company earned $0.85 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal 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.