Amazon.com (NASDAQ:AMZN) Stock Price Up 0.3% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price rose 0.3% during mid-day trading on Tuesday after Wells Fargo & Company raised their price target on the stock from $197.00 to $212.00. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com traded as high as $221.82 and last traded at $219.07. Approximately 7,138,555 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 27,058,551 shares. The stock had previously closed at $218.46.

Several other research analysts have also recently issued reports on the stock. Bank of America raised their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their target price 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. Rosenblatt Securities raised their target price on shares of Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price target on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $245.65.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated 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 in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Amazon.com Stock Up 2.6 %

The firm has a market capitalization of $2.35 trillion, a PE ratio of 47.83, a PEG ratio of 1.54 and a beta of 1.14. The company has a fifty day moving average price of $217.02 and a 200-day moving average price of $195.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations 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 firm earned $0.85 EPS. As a group, analysts expect that Amazon.com, Inc. will post 5.29 earnings per share 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.