Amazon.com (NASDAQ:AMZN) Shares Up 0.5% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) rose 0.5% during mid-day trading on Thursday after Truist Financial raised their price target on the stock from $195.00 to $216.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as high as $182.36 and last traded at $182.23. Approximately 8,541,522 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 42,507,773 shares. The stock had previously closed at $181.28.

Other equities analysts also recently issued research reports about the company. Telsey Advisory Group restated an “outperform” rating and issued a $200.00 price objective on shares of Amazon.com in a report on Wednesday, March 27th. Stifel Nicolaus increased their price objective on Amazon.com from $200.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday. Maxim Group initiated coverage on Amazon.com in a report on Wednesday. They issued a “buy” rating and a $218.00 price objective on the stock. Mizuho increased their price objective on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Monness Crespi & Hardt increased their price objective on Amazon.com from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $202.80.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total transaction of $523,807.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at $20,239,226.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $168.97, for a total value of $523,807.00. Following the sale, the vice president now owns 119,780 shares in the company, valued at approximately $20,239,226.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David Zapolsky sold 10,920 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $169.21, for a total transaction of $1,847,773.20. Following the completion of the sale, the senior vice president now owns 59,100 shares in the company, valued at approximately $10,000,311. The disclosure for this sale can be found here. Insiders have sold 32,213,510 shares of company stock worth $5,505,798,456 over the last 90 days. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Amazon.com by 1,869.1% in the second quarter. State Street Corp now owns 326,727,487 shares of the e-commerce giant’s stock valued at $34,701,726,000 after buying an additional 310,134,486 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Amazon.com by 1,838.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 311,971,394 shares of the e-commerce giant’s stock valued at $33,134,481,000 after buying an additional 295,880,050 shares during the last quarter. FMR LLC raised its holdings in shares of Amazon.com by 1,792.4% in the second quarter. FMR LLC now owns 286,047,356 shares of the e-commerce giant’s stock valued at $30,381,089,000 after buying an additional 270,931,640 shares during the last quarter. Norges Bank bought a new position in shares of Amazon.com in the fourth quarter valued at about $17,700,551,000. Finally, Moneta Group Investment Advisors LLC raised its holdings in shares of Amazon.com by 120,235.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 116,480,298 shares of the e-commerce giant’s stock valued at $9,784,345,000 after buying an additional 116,383,502 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

The stock has a fifty day moving average of $177.28 and a 200-day moving average of $156.52. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.86 trillion, a P/E ratio of 61.80, a PEG ratio of 1.60 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. The business had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 earnings per share. Equities analysts predict that Amazon.com, Inc. will post 4.08 EPS for the current fiscal 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.