Wells Fargo & Company Reiterates “Equal Weight” Rating for Amazon.com (NASDAQ:AMZN)

Wells Fargo & Company reaffirmed their equal weight rating on shares of Amazon.com (NASDAQ:AMZN) in a report issued on Wednesday morning,Benzinga reports. The firm currently has a $197.00 price target on the e-commerce giant’s stock.

A number of other research firms also recently issued reports on AMZN. Jefferies Financial Group increased their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Sanford C. Bernstein raised their price target on Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Telsey Advisory Group raised their price target on Amazon.com from $215.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley raised their price target on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, TD Cowen raised 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. Two analysts have rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $235.77.

Amazon.com Stock Down 0.6 %

Shares of Amazon.com stock opened at $197.12 on Wednesday. Amazon.com has a 1 year low of $142.81 and a 1 year high of $215.90. The business has a 50-day moving average of $193.00 and a two-hundred day moving average of $186.31. The company has a market capitalization of $2.07 trillion, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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%. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.85 earnings per share. As a group, equities analysts predict that Amazon.com will post 5.27 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,011,423 shares of company stock worth $1,249,093,896 in the last three months. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. grew its position in shares of Amazon.com by 31.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 182,359 shares of the e-commerce giant’s stock valued at $32,894,000 after purchasing an additional 43,759 shares in the last quarter. Quent Capital LLC increased its stake in Amazon.com by 3.3% in the 1st quarter. Quent Capital LLC now owns 33,729 shares of the e-commerce giant’s stock worth $6,084,000 after acquiring an additional 1,081 shares during the last quarter. Wellington Shields & Co. LLC raised its holdings in shares of Amazon.com by 0.7% during the 1st quarter. Wellington Shields & Co. LLC now owns 26,973 shares of the e-commerce giant’s stock worth $4,865,000 after acquiring an additional 183 shares in the last quarter. BCU Wealth Advisors LLC bought a new position in shares of Amazon.com during the 1st quarter valued at approximately $220,000. Finally, Wellington Shields Capital Management LLC grew its holdings in shares of Amazon.com by 10.1% in the first quarter. Wellington Shields Capital Management LLC now owns 91,791 shares of the e-commerce giant’s stock valued at $16,557,000 after purchasing an additional 8,395 shares in the last quarter. 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.