Amazon.com (NASDAQ:AMZN) Trading 2.7% Higher After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) traded up 2.7% on Wednesday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $231.20 and last traded at $231.13. 10,484,028 shares changed hands during trading, a decline of 75% from the average session volume of 41,260,473 shares. The stock had previously closed at $225.04.

A number of other equities analysts have also weighed in on AMZN. Stifel Nicolaus boosted their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Moffett Nathanson upped their price target on Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Maxim Group upped their price target on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group upped their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Monness Crespi & Hardt upped their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $237.42.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value 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 $12,171,900. This represents a 3.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now directly owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock valued at $1,253,883,872 in the last three months. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

Hedge funds have recently added to or reduced their stakes in the stock. Icon Wealth Advisors LLC lifted its position in Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares during the period. PayPay Securities Corp lifted its position in Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Hoese & Co LLP acquired a new stake in Amazon.com during the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the 3rd quarter worth approximately $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter worth approximately $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

Amazon.com Stock Up 2.3 %

The business has a 50-day simple moving average of $198.98 and a two-hundred day simple moving average of $188.78. 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 capitalization of $2.42 trillion, a price-to-earnings ratio of 49.49, a PEG ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion during 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%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. As a group, equities analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current 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.