Amazon.com (NASDAQ:AMZN) Stock Price Up 0.3% Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) traded up 0.3% during mid-day trading on Thursday after Loop Capital raised their price target on the stock from $275.00 to $285.00. Loop Capital currently has a buy rating on the stock. Amazon.com traded as high as $230.32 and last traded at $229.68. 7,934,200 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 34,327,371 shares. The stock had previously closed at $228.93.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company reduced their target price on Amazon.com from $212.00 to $207.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada raised their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. HSBC upped their target price on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. The Goldman Sachs Group raised their price target on Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Canaccord Genuity Group lifted their price target on Amazon.com from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.74.

Insider Activity

In related news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the sale, the director now directly owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,850 shares of company stock worth $6,168,581. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of institutional investors and hedge funds have recently bought and sold shares of AMZN. Accordant Advisory Group Inc lifted its position in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in Amazon.com during the fourth quarter valued at approximately $27,000. Icon Wealth Advisors LLC boosted its holdings in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the 3rd quarter worth approximately $37,000. Finally, Perritt Capital Management Inc raised its stake in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

The firm has a fifty day moving average price of $227.98 and a two-hundred day moving average price of $201.78. 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 $2.40 trillion, a P/E ratio of 41.35, a PEG ratio of 1.36 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. As a group, analysts expect that Amazon.com, Inc. will post 6.24 EPS 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.