Amazon.com (NASDAQ:AMZN) Given New $220.00 Price Target at Truist Financial

Amazon.com (NASDAQ:AMZN) had its target price increased by Truist Financial from $216.00 to $220.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

Several other analysts have also issued reports on the stock. Mizuho boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a buy rating in a research report on Wednesday. Needham & Company LLC restated a buy rating and set a $205.00 target price on shares of Amazon.com in a research report on Wednesday. UBS Group boosted their target price on shares of Amazon.com from $198.00 to $215.00 and gave the company a buy rating in a research report on Thursday, April 25th. Monness Crespi & Hardt boosted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company a buy rating in a research report on Wednesday. Finally, Sanford C. Bernstein lifted their price target on shares of Amazon.com from $175.00 to $200.00 and gave the company an outperform rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, forty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $210.18.

Amazon.com Stock Performance

Shares of AMZN stock opened at $179.00 on Wednesday. The company has a 50 day moving average price of $178.59 and a 200-day moving average price of $159.78. Amazon.com has a 52 week low of $101.15 and a 52 week high of $189.77. The firm has a market capitalization of $1.86 trillion, a PE ratio of 61.72, a P/E/G ratio of 1.57 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share. As a group, equities research analysts expect that Amazon.com will post 4.11 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $90,000.00. Following the sale, the chief executive officer now owns 132,600 shares of the company’s stock, valued at approximately $23,868,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $180.00, for a total transaction of $90,000.00. Following the transaction, the chief executive officer now owns 132,600 shares in the company, valued at approximately $23,868,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $180.73, for a total value of $632,555.00. Following the transaction, the chief executive officer now owns 512,858 shares in the company, valued at approximately $92,688,826.34. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock valued at $5,505,811,286 in the last 90 days. 10.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cooksen Wealth LLC purchased a new position in Amazon.com in the 4th quarter valued at $30,000. PayPay Securities Corp lifted its holdings in Amazon.com by 54.3% in the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after purchasing an additional 94 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. Strid Group LLC purchased a new position in Amazon.com in the 4th quarter valued at $43,000. Finally, Harbor Investment Advisory LLC lifted its holdings in Amazon.com by 0.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after purchasing an additional 1,988 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.