Amazon.com (NASDAQ:AMZN) Trading 0.5% Higher Following Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) traded up 0.5% during trading on Thursday 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 $182.36 and last traded at $182.23. 8,541,522 shares were traded during trading, a decline of 80% from the average session volume of 42,507,773 shares. The stock had previously closed at $181.28.

Several other brokerages have also commented on AMZN. Sanford C. Bernstein upped their price target on shares of Amazon.com from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI boosted their price objective on shares of Amazon.com from $195.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Amazon.com from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. TD Cowen boosted their price objective on shares of Amazon.com from $200.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $200.00 price objective on shares of Amazon.com in a research note on Wednesday, March 27th. One investment 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 MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $202.80.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the sale, the insider now owns 982,252,968 shares of the company’s stock, valued at approximately $167,140,165,034.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $170.16, for a total value of $1,020,764,145.84. Following the completion of the transaction, the insider now owns 982,252,968 shares in the company, valued at approximately $167,140,165,034.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey P. Bezos sold 2,009,208 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $166.79, for a total transaction of $335,115,802.32. Following the completion of the transaction, the insider now owns 938,251,817 shares of the company’s stock, valued at approximately $156,491,020,557.43. The disclosure for this sale can be found here. Insiders have sold a total of 32,213,510 shares of company stock valued at $5,505,798,456 in the last quarter. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mayflower Financial Advisors LLC boosted its position in shares of Amazon.com by 0.3% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 194,762 shares of the e-commerce giant’s stock valued at $25,000 after purchasing an additional 572 shares in the last quarter. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 4th quarter valued at about $30,000. PayPay Securities Corp boosted its position in shares of Amazon.com by 54.3% during the 3rd quarter. PayPay Securities Corp now owns 267 shares of the e-commerce giant’s stock valued at $34,000 after purchasing an additional 94 shares in the last quarter. Laurel Wealth Planning LLC boosted its position in shares of Amazon.com by 1,900.0% during the 2nd quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after purchasing an additional 304 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of Amazon.com during the 4th quarter valued at about $37,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $177.28 and its two-hundred day moving average price is $156.83. The company has a market cap of $1.82 trillion, a P/E ratio of 60.22, a price-to-earnings-growth ratio of 1.57 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last announced its earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, topping the consensus estimate of $0.81 by $0.19. Amazon.com had a net margin of 5.29% and a return on equity of 16.61%. The company had revenue of $169.96 billion during the quarter, compared to analysts’ expectations of $165.96 billion. During the same period last year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities analysts forecast that Amazon.com, Inc. will post 4.1 earnings per share 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.