Amazon.com (NASDAQ:AMZN) Price Target Raised to $212.00 at Wells Fargo & Company

Amazon.com (NASDAQ:AMZN) had its price objective raised by equities research analysts at Wells Fargo & Company from $197.00 to $212.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the e-commerce giant’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 3.23% from the stock’s previous close.

A number of other research firms also recently commented on AMZN. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 target price on shares of Amazon.com in a report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Susquehanna raised their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a report on Friday, November 1st. Bank of America lifted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Rosenblatt Securities boosted their price objective on shares of Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $245.65.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded up $0.61 during midday trading on Tuesday, reaching $219.07. 7,138,555 shares of the company’s stock traded hands, compared to its average volume of 27,058,551. The company has a fifty day simple moving average of $216.66 and a two-hundred day simple moving average of $195.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company has a market cap of $2.30 trillion, a P/E ratio of 46.91, a PEG ratio of 1.54 and a beta of 1.14. Amazon.com has a 1 year low of $149.91 and a 1 year high of $233.00.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts predict that Amazon.com will post 5.29 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 over the last three months. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rench Wealth Management Inc. grew its holdings in shares of Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after acquiring an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC lifted its stake in shares of Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after buying an additional 16,392 shares during the period. Umpqua Bank lifted its stake in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares during the period. Washington Trust Advisors Inc. raised its stake in shares of Amazon.com by 0.4% in the third quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after acquiring an additional 982 shares during the last quarter. Finally, Sassicaia Capital Advisers LLC bought a new position in shares of Amazon.com in the third quarter valued at approximately $279,000. Institutional investors own 72.20% of the company’s stock.

About Amazon.com

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.