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

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 0.1% on Monday after Wells Fargo & Company raised their price target on the stock from $211.00 to $217.00. Wells Fargo & Company currently has an overweight rating on the stock. Amazon.com traded as high as $183.00 and last traded at $180.49. Approximately 11,422,819 shares changed hands during trading, a decline of 74% from the average daily volume of 43,743,148 shares. The stock had previously closed at $180.38.

A number of other equities research analysts have also recently commented on the stock. Evercore ISI increased their target price on shares of Amazon.com from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Barclays increased their target price on shares of Amazon.com from $190.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Truist Financial reissued a “buy” rating and issued a $195.00 price objective on shares of Amazon.com in a report on Friday, March 22nd. Oppenheimer upped their price objective on shares of Amazon.com from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus upped their price objective on shares of Amazon.com from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amazon.com has a consensus rating of “Buy” and a consensus price target of $198.09.

View Our Latest Research Report on Amazon.com

Insiders Place Their Bets

In other Amazon.com news, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $180.00, for a total value of $90,000.00. Following the completion of the sale, the chief executive officer now owns 132,600 shares in the company, valued at approximately $23,868,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Jonathan Rubinstein sold 5,556 shares of Amazon.com stock in a transaction on Monday, March 4th. The shares were sold at an average price of $180.00, for a total value of $1,000,080.00. Following the transaction, the director now owns 109,664 shares in the company, valued at approximately $19,739,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $180.00, for a total transaction of $90,000.00. Following the completion of the transaction, the chief executive officer now owns 132,600 shares in the company, valued at approximately $23,868,000. The disclosure for this sale can be found here. Insiders sold a total of 32,210,510 shares of company stock worth $5,505,223,106 in the last quarter. 12.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in shares of Amazon.com by 1,869.1% in the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock worth $34,701,726,000 after acquiring an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Amazon.com by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock worth $33,134,481,000 after acquiring an additional 295,880,050 shares during the last quarter. FMR LLC raised its stake in shares of Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock worth $30,381,089,000 after acquiring an additional 270,931,640 shares during the last quarter. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter worth about $17,700,551,000. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of Amazon.com by 120,235.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock worth $9,784,345,000 after acquiring an additional 116,383,502 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.84. The firm has a market capitalization of $1.88 trillion, a P/E ratio of 62.40, a P/E/G ratio of 1.57 and a beta of 1.17. The stock’s 50 day moving average is $171.33 and its two-hundred day moving average is $151.85.

Amazon.com (NASDAQ:AMZNGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.19. The business had revenue of $169.96 billion during the quarter, compared to the consensus estimate of $165.96 billion. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. Amazon.com’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities analysts anticipate that Amazon.com, Inc. will post 4.08 earnings per share for the current fiscal year.

Amazon.com Company Profile

(Get Free Report)

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.

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