Amazon.com (NASDAQ:AMZN) Trading 2.7% Higher After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares traded up 2.7% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $231.20 and last traded at $231.13. 10,484,028 shares traded hands during trading, a decline of 75% from the average session volume of 41,260,473 shares. The stock had previously closed at $225.04.

A number of other brokerages have also issued reports on AMZN. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird upped their price objective on shares of Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley upped their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Benchmark upped their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Susquehanna upped their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $237.42.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the sale, the chief executive officer now directly owns 518,911 shares in the company, valued at $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,034,534 shares of company stock worth $1,253,883,872. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Institutional investors and hedge funds have recently made changes to their positions in the business. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares in the last quarter. PayPay Securities Corp increased its position in shares of Amazon.com by 64.6% in 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 in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com in the third quarter valued at approximately $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the third quarter worth approximately $45,000. Finally, Values First Advisors Inc. acquired a new stake in shares of Amazon.com in the third quarter worth approximately $56,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a 50 day moving average price of $198.98 and a 200-day moving average price of $188.78. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 49.49, a price-to-earnings-growth ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last issued 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 analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 5.29 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.