Amazon.com (NASDAQ:AMZN) Stock Price Up 1.6% on Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) were up 1.6% on Tuesday after Raymond James raised their price target on the stock from $230.00 to $260.00. Raymond James currently has a strong-buy rating on the stock. Amazon.com traded as high as $230.99 and last traded at $229.57. Approximately 12,625,132 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 28,738,660 shares. The stock had previously closed at $225.94.

Other analysts also recently issued reports about the company. Truist Financial raised their target price on Amazon.com from $265.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, November 1st. HSBC upped their target price on Amazon.com from $225.00 to $270.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Scotiabank raised their price target on shares of Amazon.com from $245.00 to $246.00 and gave the stock a "sector outperform" rating in a research report on Friday, November 1st. Susquehanna upped their price target on shares of Amazon.com from $220.00 to $230.00 and gave the company a "positive" rating in a report on Friday, November 1st. Finally, UBS Group raised their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the stock a "buy" rating in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $247.72.

Insiders Place Their Bets

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total value of $1,000,049.40. Following the completion of the sale, the director now owns 99,396 shares of the company's stock, valued at $19,864,290.60. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Icon Wealth Advisors LLC raised its position in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after acquiring an additional 25,581 shares in the last quarter. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant's stock valued at $32,000 after purchasing an additional 64 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the 3rd quarter valued at $37,000. Bull Oak Capital LLC acquired a new stake in shares of Amazon.com in the 3rd quarter valued at $45,000. Finally, Values First Advisors Inc. bought a new stake 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 Trading Up 1.9 %

The company has a fifty day simple moving average of $218.73 and a two-hundred day simple moving average of $196.68. The company has a market capitalization of $2.47 trillion, a P/E ratio of 50.32, a price-to-earnings-growth ratio of 1.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to analysts' expectations of $157.28 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company's revenue was up 11.0% on a year-over-year basis. On average, analysts forecast that Amazon.com, Inc. will post 5.39 earnings per share 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.