Amazon.com (NASDAQ:AMZN) Stock Price Up 1.8% on Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) shot up 1.8% during mid-day trading on Thursday after Loop Capital raised their price target on the stock from $225.00 to $275.00. Loop Capital currently has a buy rating on the stock. Amazon.com traded as high as $212.25 and last traded at $210.74. 17,981,525 shares changed hands during trading, a decline of 56% from the average session volume of 41,302,496 shares. The stock had previously closed at $207.09.

A number of other analysts have also issued reports on AMZN. Evercore ISI lifted their price target on Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. TD Securities increased their target price on shares of Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Needham & Company LLC restated a “buy” rating and set a $210.00 price target on shares of Amazon.com in a research report on Friday, November 1st. Finally, Wedbush upped their price objective on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average target price of $234.55.

Insider Transactions at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,859 shares of company stock valued at $10,215,097. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the business. Phillips Wealth Planners LLC raised its position in Amazon.com by 9.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after buying an additional 224 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Amazon.com by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock worth $550,217,000 after acquiring an additional 14,766 shares during the period. GAMMA Investing LLC raised its holdings in Amazon.com by 19.2% during the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after purchasing an additional 19,231 shares in the last quarter. Stonekeep Investments LLC purchased a new position in Amazon.com during the second quarter worth about $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Amazon.com by 164.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant’s stock valued at $203,677,000 after purchasing an additional 654,908 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $186.48 and a two-hundred day simple moving average of $184.23. The company has a market cap of $2.22 trillion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the company earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts predict that Amazon.com, Inc. will post 4.98 EPS for the current fiscal 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.