Amazon.com (NASDAQ:AMZN) Sets New 12-Month High Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) reached a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $230.00 to $264.00. UBS Group currently has a buy rating on the stock. Amazon.com traded as high as $232.08 and last traded at $229.74, with a volume of 4242589 shares. The stock had previously closed at $227.46.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. Bank of America increased their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush lifted their price target on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen boosted their price target on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $240.67.

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,034,534 shares of company stock valued at $1,253,883,872 over the last quarter. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares during the period. Legal & General Group Plc lifted its stake in shares of Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after buying an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after buying an additional 1,984,592 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Trading Down 0.8 %

The company has a market cap of $2.43 trillion, a PE ratio of 49.50, a PEG ratio of 1.54 and a beta of 1.16. The firm’s 50 day moving average is $203.67 and its 200 day moving average is $190.54. 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 quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the business earned $0.85 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities 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.