Amazon.com (NASDAQ:AMZN) Stock Price Up 0.5% Following Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) were up 0.5% on Thursday after Truist Financial raised their price target on the stock from $195.00 to $216.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as high as $182.36 and last traded at $182.23. Approximately 8,541,522 shares were traded during trading, a decline of 80% from the average daily volume of 42,507,773 shares. The stock had previously closed at $181.28.

Other analysts have also issued reports about the company. Wells Fargo & Company raised their price objective on Amazon.com from $211.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Piper Sandler lifted their price target on Amazon.com from $185.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Susquehanna lifted their price target on Amazon.com from $185.00 to $220.00 and gave the stock a “positive” rating in a research note on Friday, February 2nd. Evercore ISI lifted their price target on Amazon.com from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, JMP Securities lifted their price target on Amazon.com from $175.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $202.80.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the transaction, the vice president now directly 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 SEC, which is available at this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $20,239,226.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,213,510 shares of company stock valued at $5,505,798,456. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Vanguard Group Inc. raised its stake in shares of Amazon.com by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 771,086,427 shares of the e-commerce giant’s stock worth $117,158,872,000 after buying an additional 13,134,632 shares in the last quarter. State Street Corp raised its stake in shares of Amazon.com by 1.0% during the 3rd quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock worth $37,272,937,000 after buying an additional 3,121,516 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Amazon.com by 1,838.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after buying an additional 295,880,050 shares in the last quarter. FMR LLC raised its stake in shares of Amazon.com by 7.7% during the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after buying an additional 21,649,871 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Amazon.com by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 170,151,722 shares of the e-commerce giant’s stock worth $22,116,108,000 after buying an additional 4,842,542 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Up 0.5 %

The firm has a market capitalization of $1.90 trillion, a PE ratio of 62.84, a P/E/G ratio of 1.60 and a beta of 1.16. The business has a 50 day moving average price of $177.09 and a 200-day moving average price of $156.36. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. The business had revenue of $169.96 billion for the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. Analysts expect that Amazon.com, Inc. will post 4.08 earnings per share for the current year.

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.