Amazon.com (NASDAQ:AMZN) Given Buy Rating at Royal Bank Of Canada

Royal Bank Of Canada reiterated their buy rating on shares of Amazon.com (NASDAQ:AMZN) in a research report sent to investors on Tuesday morning,MarketScreener Latest Ratings reports. The firm currently has a $300.00 price objective on the e-commerce giant’s stock.

Several other brokerages have also commented on AMZN. CIBC lifted their price objective on Amazon.com to $315.00 in a report on Monday, October 20th. JPMorgan Chase & Co. raised their target price on Amazon.com from $265.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $340.00 price target on shares of Amazon.com in a research report on Monday, November 3rd. Piper Sandler reiterated a “negative” rating on shares of Amazon.com in a research note on Friday, October 31st. Finally, BMO Capital Markets restated an “outperform” rating and set a $300.00 target price on shares of Amazon.com in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.11.

Amazon.com Stock Performance

Shares of AMZN stock opened at $234.42 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The company has a 50 day moving average price of $227.92 and a 200-day moving average price of $223.55. Amazon.com has a 52 week low of $161.38 and a 52 week high of $258.60. The firm has a market capitalization of $2.51 trillion, a PE ratio of 33.11, a P/E/G ratio of 1.61 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.38. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. The company had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. During the same quarter last year, the company posted $1.43 earnings per share. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Matthew S. Garman sold 17,768 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $216.90, for a total transaction of $3,853,879.20. Following the sale, the chief executive officer directly owned 6,273 shares of the company’s stock, valued at $1,360,613.70. This trade represents a 73.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith Brian Alexander sold 900 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $233.00, for a total value of $209,700.00. Following the completion of the transaction, the director directly owned 7,170 shares of the company’s stock, valued at approximately $1,670,610. This trade represents a 11.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 79,734 shares of company stock worth $18,493,717 in the last three months. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AMZN. Wilson Asset Management International PTY Ltd. bought a new position in Amazon.com during the second quarter worth $11,102,000. ARK Investment Management LLC boosted its position in shares of Amazon.com by 8.3% during the 2nd quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock worth $250,213,000 after purchasing an additional 86,978 shares in the last quarter. Buckhead Capital Management LLC grew its stake in shares of Amazon.com by 16.1% in the 2nd quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock valued at $6,232,000 after buying an additional 3,948 shares during the period. Flaharty Asset Management LLC increased its position in Amazon.com by 87.7% in the 1st quarter. Flaharty Asset Management LLC now owns 5,088 shares of the e-commerce giant’s stock valued at $968,000 after buying an additional 2,377 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd increased its position in Amazon.com by 6.0% in the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 1,136,311 shares of the e-commerce giant’s stock valued at $249,295,000 after buying an additional 63,924 shares in the last quarter. 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.