Amazon.com (NASDAQ:AMZN) Hits New 1-Year High After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) hit a new 52-week high on Thursday after Needham & Company LLC raised their price target on the stock from $210.00 to $250.00. Needham & Company LLC currently has a buy rating on the stock. Amazon.com traded as high as $215.90 and last traded at $212.69, with a volume of 6408508 shares traded. The stock had previously closed at $214.10.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus increased their target price on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group increased their target price on Amazon.com from $220.00 to $223.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Bank of America raised their price target on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Amazon.com in a report on Monday, October 7th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $235.45.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of Amazon.com stock in a transaction dated 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 sale, the director now owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,053,349 shares of company stock worth $1,256,503,289. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

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

Amazon.com Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company has a 50-day simple moving average of $189.87 and a 200 day simple moving average of $185.36. The company has a market capitalization of $2.22 trillion, a P/E ratio of 45.53, a P/E/G ratio of 1.40 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share 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 for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the firm earned $0.85 EPS. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. Sell-side analysts expect that Amazon.com, Inc. will post 5.27 earnings per share for the current 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.