Amazon.com (NASDAQ:AMZN) Shares Up 1.7% Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares shot up 1.7% on Thursday after Tigress Financial raised their price target on the stock from $245.00 to $290.00. Tigress Financial currently has a buy rating on the stock. Amazon.com traded as high as $225.61 and last traded at $224.30. 10,892,030 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 41,107,539 shares. The stock had previously closed at $220.52.

AMZN has been the topic of several other reports. Robert W. Baird increased their price target on shares of Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Maxim Group increased their target price on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Moffett Nathanson upped their price objective on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Susquehanna boosted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group lifted their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Insiders Place Their Bets

In related news, 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 transaction, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction on Tuesday, September 24th. The shares were 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 of the company’s stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,034,534 shares of company stock worth $1,253,883,872. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Gunderson Capital Management Inc. grew its position in Amazon.com by 7.6% in the 2nd quarter. Gunderson Capital Management Inc. now owns 47,090 shares of the e-commerce giant’s stock worth $9,100,000 after purchasing an additional 3,310 shares in the last quarter. VanderPol Investments L.L.C. boosted its position in Amazon.com by 6.1% in the second quarter. VanderPol Investments L.L.C. now owns 2,502 shares of the e-commerce giant’s stock worth $484,000 after purchasing an additional 143 shares during the last quarter. jvl associates llc boosted its position in Amazon.com by 64.0% in the second quarter. jvl associates llc now owns 5,253 shares of the e-commerce giant’s stock worth $1,015,000 after purchasing an additional 2,050 shares during the last quarter. Global Trust Asset Management LLC grew its stake in Amazon.com by 3.3% in the 2nd quarter. Global Trust Asset Management LLC now owns 15,742 shares of the e-commerce giant’s stock valued at $3,042,000 after purchasing an additional 502 shares during the period. Finally, Cadent Capital Advisors LLC increased its position in shares of Amazon.com by 13.2% during the 2nd quarter. Cadent Capital Advisors LLC now owns 2,047 shares of the e-commerce giant’s stock valued at $396,000 after purchasing an additional 239 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Up 0.7 %

The company has a market capitalization of $2.37 trillion, a P/E ratio of 48.16, a PEG ratio of 1.54 and a beta of 1.16. The stock has a 50 day moving average price of $205.83 and a 200 day moving average price of $191.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate 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 return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities research analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share 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.