Amazon.com (NASDAQ:AMZN) Price Target Raised to $285.00

Amazon.com (NASDAQ:AMZN) had its price objective raised by Pivotal Research from $260.00 to $285.00 in a research note published on Friday morning, Marketbeat reports. The firm currently has a buy rating on the e-commerce giant’s stock.

A number of other research firms also recently issued reports on AMZN. Wedbush increased their target price on shares of Amazon.com from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Rosenblatt Securities increased their target price on shares of Amazon.com from $288.00 to $297.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler increased their target price on shares of Amazon.com from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of Amazon.com from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. Finally, Moffett Nathanson increased their target price on shares of Amazon.com from $250.00 to $253.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. One analyst has rated the stock with a hold rating, forty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $262.45.

Amazon.com Trading Down 8.3%

Shares of AMZN stock opened at $214.75 on Friday. The firm has a market cap of $2.28 trillion, a P/E ratio of 32.74, a PEG ratio of 1.57 and a beta of 1.31. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81. The firm’s 50-day simple moving average is $218.20 and its 200-day simple moving average is $209.03.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analyst estimates of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. As a group, equities analysts forecast that Amazon.com will post 6.31 EPS for the current year.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider directly owned 897,722,088 shares in the company, valued at $201,816,902,603.28. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 25,099,537 shares of company stock worth $5,674,394,548 in the last quarter. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Large investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its position in Amazon.com by 542,733.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 132,641,388 shares of the e-commerce giant’s stock worth $29,100,194,000 after buying an additional 132,616,953 shares during the period. Norges Bank acquired a new stake in Amazon.com in the fourth quarter worth $27,266,582,000. Nuveen LLC acquired a new stake in Amazon.com in the first quarter worth $11,674,091,000. GAMMA Investing LLC increased its position in Amazon.com by 21,420.5% in the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after buying an additional 30,104,520 shares during the period. Finally, Capital World Investors increased its position in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after buying an additional 17,681,004 shares during the period. 72.20% of the stock is currently owned by institutional investors.

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.