Amazon.com (NASDAQ:AMZN) Given New $280.00 Price Target at Canaccord Genuity Group

Amazon.com (NASDAQ:AMZN) had its target price increased by Canaccord Genuity Group from $265.00 to $280.00 in a report released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the e-commerce giant’s stock.

Several other research analysts have also weighed in on AMZN. HSBC lifted their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Pivotal Research started coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective for the company. Maxim Group lifted their target price on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark increased their price target on Amazon.com from $215.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $260.20.

Amazon.com Stock Performance

Shares of Amazon.com stock opened at $229.15 on Friday. The firm has a fifty day moving average of $226.51 and a two-hundred day moving average of $200.30. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 49.07, a PEG ratio of 1.35 and a beta of 1.15. Amazon.com has a 52 week low of $151.61 and a 52 week high of $242.52.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. As a group, equities research analysts predict that Amazon.com will post 5.3 EPS for the current year.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the sale, the insider now owns 914,420,614 shares in the company, valued at $189,056,461,944.50. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,026,212 shares of company stock valued at $625,666,424. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Rench Wealth Management Inc. increased its position in Amazon.com by 7.9% during the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after acquiring an additional 3,703 shares during the period. Foundations Investment Advisors LLC grew its position in shares of Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Blankinship & Foster LLC increased its holdings in shares of Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after purchasing an additional 4,740 shares during the period. Umpqua Bank raised its position in shares of Amazon.com by 0.4% in the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after buying an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC bought a new stake in shares of Amazon.com in the fourth quarter valued at approximately $4,270,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.