Amazon.com (NASDAQ:AMZN) Trading Up 2.7% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 2.7% during mid-day trading on Wednesday . The stock traded as high as $219.62 and last traded at $219.20. Approximately 16,226,367 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 41,245,359 shares. The stock had previously closed at $213.44.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AMZN shares. Redburn Atlantic raised their price target on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley raised their price target on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a research report on Tuesday. Finally, Wedbush raised their price objective on Amazon.com from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.20.

Amazon.com Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The firm has a market cap of $2.29 trillion, a price-to-earnings ratio of 46.94, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The firm has a 50 day moving average price of $195.51 and a 200-day moving average price of $187.34.

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

Insider Buying and Selling

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

A number of hedge funds have recently made changes to their positions in AMZN. Icon Wealth Advisors LLC lifted its holdings in Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp lifted its holdings in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new stake in Amazon.com during the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the 3rd quarter worth approximately $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.