Amazon.com (NASDAQ:AMZN) Sets New 52-Week High After Analyst Upgrade

Amazon.com (NASDAQ:AMZN) Sets New 52-Week High After Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) reached a new 52-week high on Wednesday 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 $201.45 and last traded at $200.93, with a volume of 7925221 shares trading hands. The stock had previously closed at $199.50.

Other research analysts have also issued reports about the company. Piper Sandler lifted their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Itau BBA Securities cut Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective on the stock. in a report on Friday, August 2nd. Barclays increased their target price on Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price target (up previously from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Finally, DA Davidson reiterated a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $234.55.

Insider Activity

In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at approximately $8,820,000. 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 accessible through the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of the stock in a transaction on 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 owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,859 shares of company stock worth $10,215,097. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares in the last quarter. Capital Research Global Investors raised its holdings in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Amazon.com by 1.5% during 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 buying an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after acquiring an additional 295,132 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

The firm has a market cap of $2.17 trillion, a P/E ratio of 44.04, a PEG 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. The company’s 50-day moving average is $185.75 and its two-hundred day moving average is $184.07.

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 (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. The business had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. As a group, equities analysts predict that Amazon.com, Inc. will post 4.98 EPS 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.

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