Truist Financial Raises Amazon.com (NASDAQ:AMZN) Price Target to $216.00

Amazon.com (NASDAQ:AMZN) had its price target upped by Truist Financial from $195.00 to $216.00 in a research note published on Wednesday morning, MarketBeat.com reports. They currently have a buy rating on the e-commerce giant’s stock.

Several other research firms have also recently issued reports on AMZN. TD Cowen upped their price target on Amazon.com from $200.00 to $225.00 and gave the company an outperform rating in a report on Friday, February 2nd. Morgan Stanley upped their target price on Amazon.com from $185.00 to $200.00 and gave the company an overweight rating in a report on Friday, February 2nd. Telsey Advisory Group reissued an outperform rating and issued a $200.00 price target on shares of Amazon.com in a research note on Wednesday, March 27th. Mizuho upped their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company a buy rating in a research note on Friday, February 2nd. Finally, Sanford C. Bernstein raised their target price on shares of Amazon.com from $175.00 to $200.00 and gave the stock an outperform rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of $202.80.

Amazon.com Trading Down 2.6 %

Shares of AMZN stock opened at $174.63 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a 50-day simple moving average of $177.28 and a 200 day simple moving average of $156.83. Amazon.com has a fifty-two week low of $101.15 and a fifty-two week high of $189.77. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 60.22, a P/E/G ratio of 1.57 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.19. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company had revenue of $169.96 billion during the quarter, compared to analyst estimates of $165.96 billion. During the same quarter last year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts expect that Amazon.com will post 4.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $184.00, for a total value of $92,000.00. Following the sale, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Shelley Reynolds sold 3,100 shares of the company’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 completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at $20,239,226.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $184.00, for a total value of $92,000.00. Following the completion of the sale, the chief executive officer now directly owns 131,600 shares of the company’s stock, valued at $24,214,400. The disclosure for this sale can be found here. Insiders sold a total of 32,213,510 shares of company stock valued at $5,505,798,456 in the last quarter. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Amazon.com by 1.7% in 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 acquiring an additional 13,134,632 shares during the period. State Street Corp raised its stake in shares of Amazon.com by 1.0% in the third quarter. State Street Corp now owns 329,849,003 shares of the e-commerce giant’s stock valued at $37,272,937,000 after purchasing an additional 3,121,516 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Amazon.com by 1,838.8% in the second 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 purchasing an additional 295,880,050 shares during the period. FMR LLC boosted its stake in Amazon.com by 7.7% during the third 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 increased its holdings in Amazon.com by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 170,151,722 shares of the e-commerce giant’s stock valued at $22,116,108,000 after buying an additional 4,842,542 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.