Amazon.com (NASDAQ:AMZN) Trading Up 1.2% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 1.2% on Thursday after Truist Financial raised their price target on the stock from $226.00 to $250.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as high as $224.01 and last traded at $222.46. Approximately 16,429,762 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 44,878,305 shares. The stock had previously closed at $219.92.

A number of other equities research analysts have also recently commented on the stock. UBS Group reiterated a “buy” rating on shares of Amazon.com in a report on Tuesday, May 6th. JMP Securities restated a “market outperform” rating on shares of Amazon.com in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of Amazon.com from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. DA Davidson decreased their price target on shares of Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Stifel Nicolaus decreased their price target on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amazon.com has a consensus rating of “Moderate Buy” and an average target price of $245.60.

Insider Buying and Selling at Amazon.com

In other news, CFO Brian T. Olsavsky sold 17,750 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the sale, the chief financial officer owned 49,000 shares in the company, valued at approximately $9,876,930. The trade was a 26.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 224,926 shares of the business’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $223.56, for a total value of $50,284,456.56. Following the sale, the insider owned 905,454,975 shares of the company’s stock, valued at $202,423,514,211. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,426,963 shares of company stock worth $757,297,707. Company insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several institutional investors and hedge funds have recently made changes to their positions in AMZN. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter valued at $27,000. LSV Asset Management acquired a new position in shares of Amazon.com in the 4th quarter valued at $35,000. Perritt Capital Management Inc boosted its position in shares of Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after purchasing an additional 80 shares during the period. Cooksen Wealth LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $36,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Amazon.com in the 1st quarter valued at $40,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

The firm has a 50 day moving average of $206.44 and a 200-day moving average of $208.70. The stock has a market capitalization of $2.37 trillion, a PE ratio of 36.34, a P/E/G ratio of 1.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period last year, the business earned $0.98 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Amazon.com Company Profile

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.