Amazon.com (NASDAQ:AMZN) Trading Up 0.1% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 0.1% on Monday after Evercore ISI raised their price target on the stock from $225.00 to $240.00. Evercore ISI currently has an outperform rating on the stock. Amazon.com traded as high as $192.40 and last traded at $191.76. Approximately 7,230,764 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 42,151,555 shares. The stock had previously closed at $191.60.

A number of other equities research analysts have also recently weighed in on AMZN. JPMorgan Chase & Co. reduced their price target on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. UBS Group boosted their price target on shares of Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Tigress Financial upped their target price on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company reduced their target price on shares of Amazon.com from $232.00 to $225.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Truist Financial upped their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $222.84.

Insider Activity

In related news, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at $21,989,299.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total transaction of $918,450.00. Following the transaction, the senior vice president now owns 59,500 shares of the company’s stock, valued at $11,602,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock worth $1,220,621,322 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the period. Norges Bank purchased a new position in Amazon.com during the fourth quarter worth approximately $17,700,551,000. Capital Research Global Investors raised its stake in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Legal & General Group Plc increased its position in shares of Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Up 0.0 %

The firm’s 50-day moving average price is $178.59 and its 200-day moving average price is $182.35. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 54.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.10 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Sell-side analysts forecast that Amazon.com, Inc. will post 4.86 earnings per share 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.