Amazon.com (NASDAQ:AMZN) Hits New 12-Month High After Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) reached a new 52-week high during trading on Tuesday after Mizuho raised their price target on the stock from $240.00 to $260.00. Mizuho currently has an outperform rating on the stock. Amazon.com traded as high as $230.08 and last traded at $226.09, with a volume of 46768531 shares trading hands. The stock had previously closed at $227.03.

AMZN has been the topic of several other reports. Bank of America upped their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group upped their target price on Amazon.com from $220.00 to $223.00 and gave the company a “buy” rating in a report on Monday, October 28th. Rosenblatt Securities upped their target price on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their target price on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, TD Cowen increased their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.42.

Insider Transactions at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently added to or reduced their stakes in the stock. PayPay Securities Corp boosted its holdings in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the third quarter worth $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com in the third quarter worth $45,000. Christopher J. Hasenberg Inc raised its stake in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com in the third quarter worth $56,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 2.3 %

The company has a 50 day moving average price of $198.98 and a two-hundred day moving average price of $188.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market cap of $2.42 trillion, a PE ratio of 49.49, a PEG ratio of 1.52 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Analysts expect that Amazon.com, Inc. will post 5.29 EPS 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.