Amazon.com (NASDAQ:AMZN) Trading Up 0.2% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) was up 0.2% on Tuesday after Citigroup raised their price target on the stock from $215.00 to $235.00. Citigroup currently has a buy rating on the stock. Amazon.com traded as high as $178.51 and last traded at $177.57. Approximately 11,979,464 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 42,505,699 shares. The stock had previously closed at $177.23.

Several other equities research analysts also recently weighed in on AMZN. Morgan Stanley raised their price target on Amazon.com from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Amazon.com in a report on Thursday, April 18th. Royal Bank of Canada lifted their target price on Amazon.com from $180.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $200.00 target price on shares of Amazon.com in a report on Wednesday, March 27th. Finally, Wells Fargo & Company lifted their target price on Amazon.com from $211.00 to $217.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $204.76.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares in the company, valued at $18,150,723.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 20,200 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $169.99, for a total transaction of $3,433,798.00. Following the transaction, the chief executive officer now owns 514,131 shares of the company’s stock, valued at $87,397,128.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $155.72, for a total value of $77,860.00. Following the transaction, the chief executive officer now directly owns 116,560 shares in the company, valued at approximately $18,150,723.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,214,010 shares of company stock worth $5,505,889,146. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC lifted its stake in shares of Amazon.com by 14.3% in the 3rd quarter. Register Financial Advisors LLC now owns 5,263 shares of the e-commerce giant’s stock valued at $669,000 after purchasing an additional 657 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in shares of Amazon.com by 1.0% in the 3rd quarter. Wedge Capital Management L L P NC now owns 14,613 shares of the e-commerce giant’s stock valued at $1,858,000 after purchasing an additional 148 shares during the last quarter. Cherrydale Wealth Management LLC lifted its stake in shares of Amazon.com by 14.7% in the 4th quarter. Cherrydale Wealth Management LLC now owns 5,260 shares of the e-commerce giant’s stock valued at $799,000 after purchasing an additional 675 shares during the last quarter. Tompkins Financial Corp lifted its stake in shares of Amazon.com by 3.3% in the 4th quarter. Tompkins Financial Corp now owns 71,576 shares of the e-commerce giant’s stock valued at $10,875,000 after purchasing an additional 2,273 shares during the last quarter. Finally, Nicholas Company Inc. lifted its stake in shares of Amazon.com by 3.9% in the 3rd quarter. Nicholas Company Inc. now owns 705,065 shares of the e-commerce giant’s stock valued at $89,628,000 after purchasing an additional 26,465 shares during the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 1.6 %

The company has a 50 day moving average price of $177.71 and a 200 day moving average price of $158.12. The firm has a market cap of $1.83 trillion, a price-to-earnings ratio of 60.89, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.19. The firm had revenue of $169.96 billion for the quarter, compared to the consensus estimate of $165.96 billion. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 EPS. On average, research analysts expect that Amazon.com, Inc. will post 4.1 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.