Amazon.com (NASDAQ:AMZN) Stock Price Up 1.6% Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) was up 1.6% during trading on Monday after Maxim Group raised their price target on the stock from $260.00 to $280.00. Maxim Group currently has a buy rating on the stock. Amazon.com traded as high as $233.84 and last traded at $232.72. Approximately 13,630,193 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 34,928,742 shares. The stock had previously closed at $229.15.

AMZN has been the subject of several other research reports. Scotiabank increased their price objective on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. TD Cowen increased their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Truist Financial upped their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Rosenblatt Securities boosted their price objective on Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group boosted their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.20.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,850 shares of company stock valued at $6,168,581. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors have recently bought and sold shares of AMZN. International Assets Investment Management LLC raised its position in Amazon.com by 20,897.2% in the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares during the period. Proficio Capital Partners LLC increased its position in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares during the last quarter. Parnassus Investments LLC lifted its holdings in shares of Amazon.com by 82,457.3% in the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock worth $2,125,148,000 after acquiring an additional 11,391,479 shares during the last quarter. State Street Corp boosted its position in shares of Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. Finally, Geode Capital Management LLC raised its position in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.45 trillion, a PE ratio of 42.06, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The firm has a 50-day moving average price of $226.93 and a 200 day moving average price of $200.86.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 25.49% and a net margin of 9.29%. Research analysts expect that Amazon.com, Inc. will post 6.24 earnings per share for the current 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.