Amazon.com (NASDAQ:AMZN) Trading Up 2.9% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) was up 2.9% during trading on Monday after Roth Mkm raised their price target on the stock from $220.00 to $250.00. Roth Mkm currently has a buy rating on the stock. Amazon.com traded as high as $227.15 and last traded at $227.03. Approximately 44,178,069 shares traded hands during trading, an increase of 13% from the average daily volume of 39,087,448 shares. The stock had previously closed at $220.55.

Several other equities research analysts also recently commented on AMZN. Truist Financial increased their price objective on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. Moffett Nathanson increased their price target on shares of Amazon.com from $235.00 to $248.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada lifted their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler upped their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, JMP Securities lifted their price target on Amazon.com from $265.00 to $285.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.98.

Insider Buying and Selling at Amazon.com

In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $210.00, for a total value of $735,000.00. Following the completion of the sale, the chief executive officer now owns 524,567 shares of the company’s stock, valued at $110,159,070. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,030,183 shares of company stock worth $1,252,883,795. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Icon Wealth Advisors LLC boosted its stake in shares of 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 valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp boosted 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 acquiring an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new stake in Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the 3rd quarter worth about $45,000. Finally, Values First Advisors Inc. acquired a new position in shares of Amazon.com in the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Up 2.9 %

The firm has a 50-day moving average of $197.39 and a 200 day moving average of $188.15. The company has a market cap of $2.39 trillion, a P/E ratio of 48.61, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results 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 firm 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. On average, analysts predict that Amazon.com, Inc. will post 5.29 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.