Amazon.com (NASDAQ:AMZN) Shares Up 0.8% on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) was up 0.8% during mid-day trading on Friday after BMO Capital Markets raised their price target on the stock from $220.00 to $230.00. BMO Capital Markets currently has an outperform rating on the stock. Amazon.com traded as high as $182.51 and last traded at $181.21. Approximately 7,741,231 shares traded hands during trading, a decline of 82% from the average daily volume of 42,349,016 shares. The stock had previously closed at $179.85.

Several other analysts also recently weighed in on the company. Piper Sandler boosted their target price on Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Wolfe Research initiated coverage on Amazon.com in a research report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Amazon.com from $225.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Morgan Stanley boosted their target price on Amazon.com from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on Amazon.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Amazon.com presently has an average rating of “Buy” and a consensus target price of $220.04.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith Brian Alexander sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.22, for a total value of $186,220.00. Following the completion of the transaction, the director now directly owns 4,760 shares in the company, valued at $886,407.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,112,990 shares of company stock valued at $1,222,250,048. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Garrison Point Advisors LLC grew its position in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after acquiring an additional 55 shares during the period. Meridian Investment Counsel Inc. lifted its stake in shares of Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after buying an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its stake in shares of Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after buying an additional 56 shares during the last quarter. Stordahl Capital Management Inc. lifted its stake in shares of Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its stake in Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after purchasing an additional 57 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Up 0.8 %

The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. The firm’s 50 day simple moving average is $187.32 and its two-hundred day simple moving average is $178.38. The firm has a market cap of $1.89 trillion, a price-to-earnings ratio of 50.76, a PEG ratio of 1.29 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Amazon.com, Inc. will post 4.73 EPS 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.