Amazon.com (NASDAQ:AMZN) Trading 1.5% Higher After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shot up 1.5% during mid-day trading on Thursday after Argus raised their price target on the stock from $185.00 to $205.00. Argus currently has a buy rating on the stock. Amazon.com traded as high as $183.19 and last traded at $181.75. 17,024,916 shares traded hands during trading, a decline of 61% from the average session volume of 43,856,266 shares. The stock had previously closed at $179.00.

Other analysts also recently issued reports about the stock. Canaccord Genuity Group increased their price target on shares of Amazon.com from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. UBS Group increased their price target on shares of Amazon.com from $215.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday. Susquehanna increased their price target on shares of Amazon.com from $185.00 to $220.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Monness Crespi & Hardt increased their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Evercore ISI increased their price objective on shares of Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Buy” and a consensus price target of $211.07.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $20,239,226.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, CEO Douglas J. Herrington sold 20,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the sale, the chief executive officer now directly owns 514,131 shares in the company, valued at approximately $87,397,128.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at $20,239,226.60. The disclosure for this sale can be found here. Insiders have sold 32,217,010 shares of company stock valued at $5,506,442,301 in the last 90 days. 10.80% of the stock is owned by insiders.

Institutional Trading of Amazon.com

Several hedge funds have recently bought and sold shares of AMZN. Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $30,000. PayPay Securities Corp raised its holdings in shares of Amazon.com by 54.3% in the third 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 during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Amazon.com by 45.0% in the fourth 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 during the last quarter. Strid Group LLC acquired a new stake in shares of Amazon.com in the fourth quarter valued at approximately $43,000. Finally, Harbor Investment Advisory LLC raised its holdings in shares of Amazon.com by 0.7% in the fourth 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 during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Up 0.8 %

The company has a quick ratio of 0.84, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 52.16, a P/E/G ratio of 1.55 and a beta of 1.15. The stock’s fifty day moving average price is $178.79 and its 200-day moving average price is $159.95.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. On average, sell-side analysts predict that Amazon.com, Inc. will post 4.12 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.