Amazon.com (NASDAQ:AMZN) Trading 1.5% Higher After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)'s share price rose 1.5% during mid-day trading on Wednesday 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 $235.44 and last traded at $234.24. Approximately 13,126,192 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 29,686,242 shares. The stock had previously closed at $230.71.

A number of other equities research analysts have also issued reports on AMZN. Susquehanna boosted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. HSBC upped their price objective on shares of Amazon.com from $225.00 to $270.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Truist Financial lifted their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Maxim Group upped their price target on shares of Amazon.com from $251.00 to $260.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Pivotal Research began 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. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.72.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares of the company's stock, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,032,344 shares of company stock worth $1,253,456,822 over the last three months. Company insiders own 10.80% of the company's stock.

Institutional Trading of Amazon.com

Several large investors have recently made changes to their positions in AMZN. State Street Corp boosted its position in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock valued at $66,926,008,000 after buying an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant's stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares during the period. Legal & General Group Plc boosted its holdings in Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant's stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant's stock worth $10,776,201,000 after purchasing an additional 1,984,592 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Amazon.com by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant's stock worth $10,678,217,000 after purchasing an additional 1,980,663 shares during the last quarter. Institutional investors own 72.20% of the company's stock.

Amazon.com Trading Up 1.9 %

The company has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 50.32, a P/E/G ratio of 1.26 and a beta of 1.14. 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 business's 50-day simple moving average is $218.73 and its 200-day simple moving average is $196.68.

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