Amazon.com (NASDAQ:AMZN) Trading 1.5% Higher – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN) rose 1.5% on Wednesday . The company traded as high as $212.31 and last traded at $212.08. Approximately 13,242,429 shares traded hands during trading, a decline of 68% from the average daily volume of 41,263,684 shares. The stock had previously closed at $208.91.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMZN. Rosenblatt Securities raised their price objective on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark lifted their price target on Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Monness Crespi & Hardt upped their price objective on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen raised their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wolfe Research assumed coverage on shares of Amazon.com in a report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 target price on the stock. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.55.

Amazon.com Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock’s 50 day simple moving average is $189.05 and its 200 day simple moving average is $185.15. The firm has a market cap of $2.24 trillion, a P/E ratio of 45.91, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts anticipate that Amazon.com, Inc. will post 5.27 EPS for the current year.

Insider Transactions at Amazon.com

In related news, 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 owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 approximately $12,171,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,053,349 shares of company stock valued at $1,256,503,289 over the last ninety days. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

A number of institutional investors and hedge funds have recently modified their holdings of AMZN. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp grew its position in Amazon.com by 64.6% during 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 purchased a new stake in Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com in the third quarter worth about $45,000. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the third quarter valued at about $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.