Amazon.com (NASDAQ:AMZN) Price Target Raised to $297.00

Amazon.com (NASDAQ:AMZN) had its price objective upped by Rosenblatt Securities from $288.00 to $297.00 in a research note released on Friday,Benzinga reports. The firm currently has a buy rating on the e-commerce giant’s stock.

Other research analysts have also recently issued research reports about the company. Needham & Company LLC increased their price objective on Amazon.com from $220.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. Bank of America increased their price objective on Amazon.com from $248.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price objective on Amazon.com from $235.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Sanford C. Bernstein set a $235.00 price objective on Amazon.com and gave the stock an “outperform” rating in a research report on Tuesday, July 1st. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating, forty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $262.45.

Amazon.com Stock Down 8.3%

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

Amazon.com (NASDAQ:AMZN) last posted 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 firm had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 EPS. As a group, research analysts expect that Amazon.com will post 6.31 earnings per share for the current year.

Insider Activity

In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the firm’s stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 25,099,537 shares of company stock worth $5,674,394,548 in the last ninety days. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently made changes to their positions in AMZN. Kingstone Capital Partners Texas LLC raised its position in shares of Amazon.com by 542,733.6% during 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 acquiring an additional 132,616,953 shares during the last quarter. Norges Bank bought a new position in shares of Amazon.com during the fourth quarter worth about $27,266,582,000. Nuveen LLC bought a new stake in Amazon.com in the first quarter worth approximately $11,674,091,000. GAMMA Investing LLC increased its holdings 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 purchasing an additional 30,104,520 shares in the last quarter. Finally, Capital World Investors increased its holdings 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 purchasing an additional 17,681,004 shares in the last quarter. 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.