Amazon.com (NASDAQ:AMZN) Price Target Raised to $246.00

Amazon.com (NASDAQ:AMZN) had its price target upped by Scotiabank from $245.00 to $246.00 in a report released on Friday, Benzinga reports. The brokerage currently has a sector outperform rating on the e-commerce giant’s stock.

AMZN has been the topic of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $210.00 price objective on shares of Amazon.com in a research note on Thursday, October 3rd. UBS Group upped their price objective on shares of Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Bank of America increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday. The Goldman Sachs Group boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Amazon.com in a report on Friday. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $246.02.

Amazon.com Stock Up 6.2 %

NASDAQ:AMZN opened at $197.93 on Friday. 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 has a one year low of $136.47 and a one year high of $201.20. The firm’s 50 day simple moving average is $184.82 and its 200 day simple moving average is $183.77. The company has a market cap of $2.08 trillion, a PE ratio of 42.38, a P/E/G ratio of 1.42 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 23.46%. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, research analysts anticipate that Amazon.com will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was 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 of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,855 shares of company stock valued at $9,215,048. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Costello Asset Management INC grew its position in shares of Amazon.com by 8.8% in the third quarter. Costello Asset Management INC now owns 38,080 shares of the e-commerce giant’s stock valued at $7,095,000 after purchasing an additional 3,080 shares in the last quarter. Avid Wealth Partners LLC boosted its stake in Amazon.com by 3.9% in the 3rd quarter. Avid Wealth Partners LLC now owns 2,207 shares of the e-commerce giant’s stock worth $411,000 after purchasing an additional 83 shares during the period. Ted Buchan & Co increased its position in shares of Amazon.com by 4.0% during the third quarter. Ted Buchan & Co now owns 15,298 shares of the e-commerce giant’s stock valued at $2,851,000 after buying an additional 593 shares during the period. Covestor Ltd lifted its holdings in shares of Amazon.com by 1.8% in the third quarter. Covestor Ltd now owns 5,339 shares of the e-commerce giant’s stock worth $994,000 after buying an additional 95 shares in the last quarter. Finally, 17 Capital Partners LLC boosted its position in shares of Amazon.com by 1.5% in the third quarter. 17 Capital Partners LLC now owns 10,502 shares of the e-commerce giant’s stock valued at $1,957,000 after acquiring an additional 160 shares during the period. Institutional investors own 72.20% of the company’s stock.

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.