Amazon.com (NASDAQ:AMZN) Price Target Raised to $253.00

Amazon.com (NASDAQ:AMZN) had its price objective raised by Arete from $248.00 to $253.00 in a report published on Monday morning,MarketScreener reports. Arete currently has a buy rating on the e-commerce giant’s stock.

Other research analysts have also recently issued research reports about the company. Rosenblatt Securities increased their price objective on Amazon.com from $288.00 to $297.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Westpark Capital reiterated a “buy” rating and set a $280.00 price objective on shares of Amazon.com in a research report on Friday, August 1st. Wall Street Zen upgraded Amazon.com from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Cowen reiterated a “buy” rating on shares of Amazon.com in a research report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Amazon.com from $230.00 to $266.00 in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, forty-eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $268.54.

Amazon.com Trading Up 0.5%

Shares of Amazon.com stock opened at $230.30 on Monday. The business has a fifty day simple moving average of $225.17 and a two-hundred day simple moving average of $215.34. Amazon.com has a 1 year low of $161.38 and a 1 year high of $242.52. The company has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 1.51 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.37. The business had revenue of $167.70 billion during the quarter, compared to the consensus estimate of $161.80 billion. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%.The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.26 EPS. Research analysts forecast that Amazon.com will post 6.31 EPS for the current year.

Insider Activity

In other news, VP Shelley Reynolds sold 2,715 shares of Amazon.com stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $221.64, for a total transaction of $601,752.60. Following the sale, the vice president directly owned 119,780 shares of the company’s stock, valued at approximately $26,548,039.20. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew R. Jassy sold 19,872 shares of Amazon.com stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $221.58, for a total value of $4,403,237.76. Following the completion of the transaction, the chief executive officer directly owned 2,178,502 shares in the company, valued at approximately $482,712,473.16. This represents a 0.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 97,911 shares of company stock valued at $21,765,202. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors have recently added to or reduced their stakes in AMZN. Carderock Capital Management Inc. bought a new stake in shares of Amazon.com during the second quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new stake in shares of Amazon.com during the first quarter valued at approximately $36,000. Inlight Wealth Management LLC bought a new stake in Amazon.com during the first quarter worth $40,000. Maryland Capital Advisors Inc. grew its holdings in Amazon.com by 81.9% during the second quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock worth $46,000 after buying an additional 95 shares in the last quarter. Finally, Capitol Family Office Inc. bought a new stake in Amazon.com during the first quarter worth $42,000. 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.