Amazon.com (NASDAQ:AMZN) Stock Price Up 0.3% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 0.3% 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. Approximately 7,138,555 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 27,058,551 shares. The stock had previously closed at $218.46.

Other equities research analysts have also issued reports about the stock. Pivotal Research began coverage on shares of Amazon.com in a report on Friday, October 11th. They set a “buy” rating and a $260.00 price objective on the stock. Morgan Stanley raised their target price on shares of Amazon.com from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial lifted their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Mizuho lifted their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Wedbush lifted their price objective on shares of Amazon.com from $250.00 to $260.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $245.65.

Insiders Place Their Bets

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Several hedge funds have recently modified their holdings of the company. PayPay Securities Corp lifted its position in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com in the third quarter worth $45,000. Christopher J. Hasenberg Inc lifted its position in Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after buying an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the third quarter worth $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

The firm has a market capitalization of $2.30 trillion, a P/E ratio of 46.92, a P/E/G ratio of 1.54 and a beta of 1.14. The firm has a 50-day moving average price of $216.66 and a two-hundred day moving average price of $195.57. 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 announced its quarterly earnings results 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 firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’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 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 5.29 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.