Amazon.com (NASDAQ:AMZN) Trading 2.2% Higher Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shot up 2.2% during trading on Tuesday after Moffett Nathanson raised their price target on the stock from $235.00 to $248.00. Moffett Nathanson currently has a buy rating on the stock. Amazon.com traded as high as $201.95 and last traded at $201.45. 40,685,672 shares traded hands during trading, a decline of 2% from the average session volume of 41,550,199 shares. The stock had previously closed at $197.12.

AMZN has been the subject of several other reports. Sanford C. Bernstein lifted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Piper Sandler lifted their price target on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group increased their price objective on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a report on Monday, October 28th. TD Cowen lifted their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark increased their price target on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $236.20.

Insiders Place Their Bets

In other news, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares in the company, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,026,683 shares of company stock worth $1,252,148,795 in the last ninety days. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its position in shares of Amazon.com by 20,897.2% during the 3rd 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. Vanguard Group Inc. boosted its position in shares of Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Swedbank AB purchased a new position in Amazon.com during the 1st quarter worth approximately $2,239,757,000. Capital World Investors increased its position in Amazon.com by 64.6% during the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock worth $5,295,899,000 after buying an additional 11,524,463 shares during the period. Finally, Parnassus Investments LLC lifted its stake in Amazon.com by 82,457.3% in the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after buying an additional 11,391,479 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Performance

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 company has a market cap of $2.16 trillion, a PE ratio of 44.06, a PEG ratio of 1.35 and a beta of 1.14. The stock has a 50 day simple moving average of $194.14 and a two-hundred day simple moving average of $186.66.

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, topping 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 firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the business earned $0.85 EPS. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current 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.