Citigroup Raises Amazon.com (NASDAQ:AMZN) Price Target to $245.00

Amazon.com (NASDAQ:AMZN) had its price target hoisted by Citigroup from $235.00 to $245.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

Other equities research analysts have also issued research reports about the stock. Maxim Group cut their price target on shares of Amazon.com from $318.00 to $238.00 and set a buy rating on the stock in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Amazon.com from $211.00 to $217.00 and gave the company an overweight rating in a research report on Monday, April 1st. Raymond James increased their target price on shares of Amazon.com from $200.00 to $205.00 and gave the stock a strong-buy rating in a research report on Wednesday. Rosenblatt Securities reaffirmed a buy rating and issued a $220.00 price target on shares of Amazon.com in a research note on Wednesday. Finally, Piper Sandler lifted their price objective on Amazon.com from $205.00 to $220.00 and gave the company an overweight rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $211.07.

Amazon.com Trading Up 0.8 %

Amazon.com stock opened at $186.21 on Wednesday. The firm has a 50 day simple moving average of $178.79 and a 200-day simple moving average of $159.95. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.84. The stock has a market capitalization of $1.93 trillion, a PE ratio of 52.16, a price-to-earnings-growth ratio of 1.55 and a beta of 1.15. Amazon.com has a 12-month low of $103.31 and a 12-month high of $189.77.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. During the same period in the prior year, the company earned $0.31 EPS. Amazon.com’s revenue was up 12.5% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com will post 4.12 EPS for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the transaction, the insider now directly owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Amazon.com news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the transaction, the insider now owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $20,239,226.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,217,010 shares of company stock valued at $5,506,442,301. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. Norges Bank acquired a new stake in shares of Amazon.com during the 4th quarter worth approximately $17,700,551,000. Vanguard Group Inc. grew its holdings in Amazon.com by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after acquiring an additional 32,038,029 shares during the period. International Assets Investment Management LLC grew its holdings in Amazon.com by 16,029.3% during the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after acquiring an additional 23,717,254 shares during the period. FMR LLC raised its position in shares of Amazon.com by 7.7% during the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock valued at $38,403,135,000 after acquiring an additional 21,649,871 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Amazon.com by 28.4% in the 3rd quarter. Jennison Associates LLC now owns 54,981,548 shares of the e-commerce giant’s stock valued at $6,989,254,000 after purchasing an additional 12,176,114 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.