Amazon.com (NASDAQ:AMZN) Trading Up 1.8% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares traded up 1.8% during mid-day trading on Thursday after Loop Capital raised their price target on the stock from $225.00 to $275.00. Loop Capital currently has a buy rating on the stock. Amazon.com traded as high as $212.25 and last traded at $210.74. 17,981,525 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 41,302,496 shares. The stock had previously closed at $207.09.

Several other research firms have also recently issued reports on AMZN. Sanford C. Bernstein raised their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Bank of America lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lifted their price target on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target on shares of Amazon.com in a research report on Friday, November 1st. Finally, Royal Bank of Canada lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $234.55.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares in the company, valued at $19,864,290.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jonathan Rubinstein sold 5,004 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, 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 sold a total of 55,859 shares of company stock worth $10,215,097 over the last 90 days. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently modified their holdings of the company. Phillips Wealth Planners LLC lifted its holdings in Amazon.com by 9.2% in the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after purchasing an additional 224 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Amazon.com by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after purchasing an additional 14,766 shares during the period. GAMMA Investing LLC lifted its holdings in Amazon.com by 19.2% in the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after purchasing an additional 19,231 shares during the period. Stonekeep Investments LLC acquired a new stake in Amazon.com in the second quarter worth about $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Amazon.com by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock worth $203,677,000 after purchasing an additional 654,908 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Up 1.4 %

The firm has a market cap of $2.21 trillion, a price-to-earnings ratio of 44.98, a P/E/G ratio of 1.34 and a beta of 1.14. The firm’s fifty day moving average is $186.48 and its two-hundred day moving average is $184.23. 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 issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 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 EPS. Amazon.com’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts expect that Amazon.com, Inc. will post 5.16 EPS for the current fiscal year.

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.