Amazon.com (NASDAQ:AMZN) Shares Up 0.7% Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price rose 0.7% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $210.00 to $230.00. Morgan Stanley currently has an overweight rating on the stock. Amazon.com traded as high as $197.43 and last traded at $197.13. Approximately 7,110,407 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 41,157,059 shares. The stock had previously closed at $195.78.

AMZN has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Wolfe Research initiated coverage on shares of Amazon.com in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price objective for the company. JMP Securities boosted their target price on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Benchmark upped their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.48.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,859 shares of company stock worth $10,215,097 over the last quarter. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

Institutional investors have recently modified their holdings of the company. Garrison Point Advisors LLC raised its stake in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after acquiring an additional 55 shares during the period. Meridian Investment Counsel Inc. increased its holdings in Amazon.com by 1.8% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after purchasing an additional 55 shares in the last quarter. O Connor Financial Group LLC lifted its stake in shares of Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after purchasing an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC lifted its stake in shares of Amazon.com by 0.7% during the third quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock worth $1,396,000 after purchasing an additional 55 shares in the last quarter. Finally, Stordahl Capital Management Inc. boosted its position in shares of Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Trading Up 1.9 %

The firm has a market cap of $2.09 trillion, a price-to-earnings ratio of 42.72, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $185.75 and a 200-day moving average price of $184.07.

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. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, research analysts expect that Amazon.com, Inc. will post 4.98 EPS 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.