Amazon.com (NASDAQ:AMZN) Stock Price Up 0% Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 0% during trading on Wednesday after Truist Financial raised their price target on the stock from $195.00 to $216.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as high as $184.57 and last traded at $183.33. Approximately 7,470,453 shares changed hands during trading, a decline of 82% from the average daily volume of 42,636,355 shares. The stock had previously closed at $183.32.

A number of other research analysts also recently issued reports on AMZN. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Amazon.com in a research report on Wednesday, April 10th. Raymond James increased their target price on shares of Amazon.com from $185.00 to $200.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. Sanford C. Bernstein increased their price objective on shares of Amazon.com from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Wells Fargo & Company raised their target price on shares of Amazon.com from $211.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, Piper Sandler boosted their target price on shares of Amazon.com from $185.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $202.80.

Insider Buying and Selling

In related news, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $155.72, for a total transaction of $77,860.00. Following the completion of the sale, the chief executive officer now directly owns 116,560 shares of the company’s stock, valued at approximately $18,150,723.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $155.72, for a total value of $77,860.00. Following the transaction, the chief executive officer now owns 116,560 shares of the company’s stock, valued at $18,150,723.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,213,510 shares of company stock valued at $5,505,798,456. 12.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in AMZN. Meridian Investment Counsel Inc. lifted its stake in Amazon.com by 3.4% during the first quarter. Meridian Investment Counsel Inc. now owns 151 shares of the e-commerce giant’s stock worth $492,000 after purchasing an additional 5 shares during the last quarter. Alterna Wealth Management Inc. increased its holdings in shares of Amazon.com by 1.8% in the first quarter. Alterna Wealth Management Inc. now owns 289 shares of the e-commerce giant’s stock valued at $942,000 after purchasing an additional 5 shares during the period. Fiduciary Planning LLC increased its holdings in shares of Amazon.com by 1.5% in the first quarter. Fiduciary Planning LLC now owns 349 shares of the e-commerce giant’s stock valued at $1,138,000 after purchasing an additional 5 shares during the period. HBC Financial Services PLLC increased its holdings in shares of Amazon.com by 0.8% in the first quarter. HBC Financial Services PLLC now owns 616 shares of the e-commerce giant’s stock valued at $1,717,000 after purchasing an additional 5 shares during the period. Finally, Archetype Wealth Partners increased its holdings in shares of Amazon.com by 3.7% in the first quarter. Archetype Wealth Partners now owns 169 shares of the e-commerce giant’s stock valued at $552,000 after purchasing an additional 6 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.86 trillion, a price-to-earnings ratio of 61.80, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. The stock has a fifty day moving average price of $177.28 and a 200-day moving average price of $156.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The firm had revenue of $169.96 billion for the quarter, compared to the consensus estimate of $165.96 billion. During the same period in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, analysts expect that Amazon.com, Inc. will post 4.08 earnings per share for the current fiscal 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.