JPMorgan Chase & Co. Issues Positive Forecast for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price objective boosted by JPMorgan Chase & Co. from $225.00 to $240.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the e-commerce giant's stock.

AMZN has been the subject of a number of other reports. Phillip Securities lowered shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, February 10th. Wells Fargo & Company lowered their price objective on shares of Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 25th. Bank of America upped their price objective on shares of Amazon.com from $230.00 to $248.00 and gave the stock a "buy" rating in a research note on Monday. Cantor Fitzgerald upped their price objective on shares of Amazon.com from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised shares of Amazon.com to a "hold" rating in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.89.

Amazon.com Trading Up 0.3%

Shares of AMZN traded up $0.68 during trading hours on Wednesday, reaching $207.91. 51,794,788 shares of the company traded hands, compared to its average volume of 42,069,531. The firm has a market cap of $2.21 trillion, a price-to-earnings ratio of 37.60, a PEG ratio of 1.50 and a beta of 1.33. Amazon.com has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock's fifty day moving average price is $191.06 and its 200 day moving average price is $208.60.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts forecast that Amazon.com will post 6.31 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, Director Keith Brian Alexander sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $210.68, for a total transaction of $210,680.00. Following the sale, the director now owns 5,465 shares of the company's stock, valued at $1,151,366.20. This trade represents a 15.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $204.98, for a total transaction of $512,450.00. Following the sale, the chief executive officer now directly owns 517,050 shares in the company, valued at $105,984,909. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,037 shares of company stock valued at $20,531,075 in the last 90 days. 9.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently added to or reduced their stakes in the stock. Momentous Wealth Management Inc. purchased a new position in Amazon.com in the 4th quarter valued at $749,000. Segall Bryant & Hamill LLC lifted its holdings in Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant's stock valued at $69,572,000 after purchasing an additional 39,696 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in Amazon.com by 0.5% in the 4th quarter. Evergreen Capital Management LLC now owns 242,550 shares of the e-commerce giant's stock valued at $53,213,000 after purchasing an additional 1,198 shares in the last quarter. Bearing Point Capital LLC purchased a new position in Amazon.com in the 4th quarter valued at $12,014,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Amazon.com by 173.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,461,573 shares of the e-commerce giant's stock valued at $759,434,000 after purchasing an additional 2,196,353 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

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.