Amazon.com (NASDAQ:AMZN) Shares Up 1% After Analyst Upgrade

by · The Cerbat Gem

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 1% on Monday after UBS Group raised their price target on the stock from $220.00 to $223.00. UBS Group currently has a buy rating on the stock. Amazon.com traded as high as $190.21 and last traded at $189.75. Approximately 6,956,453 shares traded hands during trading, a decline of 83% from the average daily volume of 40,830,777 shares. The stock had previously closed at $187.83.

Several other research firms have also weighed in on AMZN. Evercore ISI reaffirmed an “outperform” rating and issued a $240.00 price objective on shares of Amazon.com in a research note on Friday, October 11th. Wolfe Research started coverage on shares of Amazon.com in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $250.00 price target on the stock. TD Securities upped their price objective on shares of Amazon.com from $225.00 to $245.00 in a research report on Wednesday, July 10th. Pivotal Research initiated coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price on the stock. Finally, Rosenblatt Securities upped their price target on shares of Amazon.com from $220.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.76.

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Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $189.25, for a total value of $662,375.00. Following the completion of the sale, the chief executive officer now owns 503,753 shares of the company’s stock, valued at approximately $95,335,255.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Brian T. Olsavsky sold 14,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now owns 49,000 shares in the company, valued at $8,820,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the sale, the chief executive officer now owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,355 shares of company stock worth $9,877,423. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently bought and sold shares of the company. PayPay Securities Corp grew its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the third quarter valued at approximately $45,000. Christopher J. Hasenberg Inc lifted its holdings in Amazon.com by 650.0% during the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after acquiring an additional 260 shares during the period. Finally, Values First Advisors Inc. purchased a new position in Amazon.com in the third quarter worth $56,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

The stock has a market cap of $1.97 trillion, a P/E ratio of 53.03, a P/E/G ratio of 1.38 and a beta of 1.14. The business has a 50 day simple moving average of $183.50 and a 200-day simple moving average of $183.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10.

Amazon.com (NASDAQ:AMZN – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. On average, sell-side analysts forecast that Amazon.com, Inc. will post 4.85 EPS for the current year.

About Amazon.com

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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.

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