Amazon.com (NASDAQ:AMZN) Shares Up 0.7% After Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) rose 0.7% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $210.00 to $230.00. Morgan Stanley currently has an overweight rating on the stock. Amazon.com traded as high as $197.43 and last traded at $197.13. Approximately 7,110,407 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 41,157,059 shares. The stock had previously closed at $195.78.

Several other research firms have also recently commented on AMZN. Needham & Company LLC reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Amazon.com in a research report on Friday. TD Cowen increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday. Sanford C. Bernstein increased their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the company an "outperform" rating in a research note on Friday. Truist Financial increased their price objective on shares of Amazon.com from $265.00 to $270.00 and gave the stock a "buy" rating in a research report on Friday. Finally, DA Davidson reissued a "buy" rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $246.48.

Insider Buying and Selling

In related news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the firm's stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now owns 62,420 shares of the company's stock, valued at $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,855 shares of company stock worth $9,215,048. Company insiders own 10.80% of the company's stock.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Phillips Wealth Planners LLC grew its stake in shares of Amazon.com by 9.2% in the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant's stock worth $487,000 after purchasing an additional 224 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Amazon.com by 0.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant's stock valued at $550,217,000 after buying an additional 14,766 shares during the period. GAMMA Investing LLC raised its holdings in shares of Amazon.com by 19.2% during the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant's stock valued at $22,211,000 after purchasing an additional 19,231 shares during the period. Stonekeep Investments LLC acquired a new stake in shares of Amazon.com in the 2nd quarter worth about $2,588,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Amazon.com by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,053,958 shares of the e-commerce giant's stock worth $203,677,000 after purchasing an additional 654,908 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Up 1.9 %

The stock's 50-day moving average price is $185.23 and its two-hundred day moving average price is $183.89. The stock has a market capitalization of $2.09 trillion, a P/E ratio of 42.21, a P/E/G ratio of 1.46 and a beta of 1.14. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

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