Amazon.com (NASDAQ:AMZN) Trading Up 1.7% After Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) were up 1.7% on Thursday after Tigress Financial raised their price target on the stock from $245.00 to $290.00. Tigress Financial currently has a buy rating on the stock. Amazon.com traded as high as $225.61 and last traded at $224.30. Approximately 10,892,030 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 41,107,539 shares. The stock had previously closed at $220.52.

AMZN has been the subject of several other reports. Piper Sandler upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Bank of America upped their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen lifted their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Robert W. Baird boosted their price objective on Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Benchmark raised their target price on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.00.

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock worth $1,253,883,872 in the last quarter. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. PayPay Securities Corp boosted its holdings in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares during the period. Hoese & Co LLP acquired a new position in Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the 3rd quarter valued at about $45,000. Christopher J. Hasenberg Inc raised its holdings in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in Amazon.com during the third quarter valued at approximately $56,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Performance

The stock has a market capitalization of $2.37 trillion, a P/E ratio of 48.16, a P/E/G ratio of 1.54 and a beta of 1.16. The stock has a 50 day simple moving average of $205.83 and a two-hundred day simple moving average of $191.30. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal 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.