Amazon.com (NASDAQ:AMZN) Shares Up 0.3% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price shot up 0.3% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $197.00 to $212.00. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com traded as high as $221.82 and last traded at $219.07. 7,138,555 shares traded hands during trading, a decline of 74% from the average session volume of 27,058,551 shares. The stock had previously closed at $218.46.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley increased their price target on Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday. HSBC lifted their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Rosenblatt Securities increased their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $245.65.

Insider Activity at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction that occurred 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 transaction, the director now owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors have recently added to or reduced their stakes in AMZN. Icon Wealth Advisors LLC raised its position in shares of 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 valued at $28,000 after buying an additional 25,581 shares in the last quarter. PayPay Securities Corp grew its stake in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new stake in Amazon.com in the third quarter worth $45,000. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the 3rd quarter worth about $56,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 0.3 %

The business has a fifty day moving average of $217.02 and a 200-day moving average of $195.74. The stock has a market cap of $2.29 trillion, a PE ratio of 46.63, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. 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 posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. Equities research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share 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.