Amazon.com (NASDAQ:AMZN) Trading 1.8% Higher Following Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 1.8% during trading on Thursday after Loop Capital raised their price target on the stock from $225.00 to $275.00. Loop Capital currently has a buy rating on the stock. Amazon.com traded as high as $212.25 and last traded at $210.74. Approximately 17,981,525 shares traded hands during trading, a decline of 56% from the average daily volume of 41,302,496 shares. The stock had previously closed at $207.09.

Other analysts have also issued research reports about the company. Rosenblatt Securities boosted their price target on Amazon.com from $221.00 to $236.00 and gave the company a "buy" rating in a report on Friday, November 1st. Robert W. Baird raised their price target on Amazon.com from $213.00 to $220.00 and gave the company an "outperform" rating in a report on Friday, November 1st. DA Davidson reissued a "buy" rating and issued a $235.00 target price on shares of Amazon.com in a report on Thursday, October 10th. Pivotal Research assumed coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a "buy" rating and a $260.00 price objective for the company. Finally, Jefferies Financial Group upped their target price on shares of Amazon.com from $225.00 to $235.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.55.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the business's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Jonathan Rubinstein sold 5,004 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares in the company, valued at $19,864,290.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company's stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,859 shares of company stock worth $10,215,097 over the last quarter. Insiders own 10.80% of the company's stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMZN. PayPay Securities Corp raised its position in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant's stock valued at $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com during the 3rd quarter worth about $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the third quarter worth about $45,000. Values First Advisors Inc. purchased a new position in shares of Amazon.com in the 3rd quarter valued at approximately $56,000. Finally, Christopher J. Hasenberg Inc boosted its stake in shares of Amazon.com by 650.0% in the second quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant's stock valued at $58,000 after buying an additional 260 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

The company has a market cap of $2.21 trillion, a price-to-earnings ratio of 44.98, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a fifty day simple moving average of $186.48 and a two-hundred day simple moving average of $184.23. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter last year, the company earned $0.85 earnings per share. Amazon.com's revenue for the quarter was up 11.0% on a year-over-year basis. On average, equities research analysts anticipate that Amazon.com, Inc. will post 4.98 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.