Amazon.com (NASDAQ:AMZN) Shares Up 2.5% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price traded up 2.5% during trading on Wednesday 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 $205.98 and last traded at $204.54. 28,022,484 shares were traded during trading, a decline of 32% from the average session volume of 41,205,059 shares. The stock had previously closed at $199.50.

AMZN has been the subject of several other reports. Royal Bank of Canada increased their price target on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley upped their price target on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday. Sanford C. Bernstein increased their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets restated an “outperform” rating and set a $236.00 price objective (up from $230.00) on shares of Amazon.com in a research note 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $234.55.

Insiders Place Their Bets

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other 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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,859 shares of company stock valued at $10,215,097. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently added to or reduced their stakes in AMZN. International Assets Investment Management LLC grew its position in shares of Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the last quarter. Vanguard Group Inc. raised its holdings in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB acquired a new position in shares of Amazon.com in the 1st quarter worth approximately $2,239,757,000. Capital World Investors boosted its stake in shares of Amazon.com by 64.6% in the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after purchasing an additional 11,524,463 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after buying an additional 6,810,145 shares during the period. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 1.4 %

The stock’s 50-day simple moving average is $186.48 and its 200 day simple moving average is $184.23. 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 firm has a market cap of $2.21 trillion, a P/E ratio of 44.98, a PEG ratio of 1.34 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm’s 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 forecast that Amazon.com, Inc. will post 5.16 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.