Amazon.com, Inc. (NASDAQ:AMZN)'s share price traded up 1.6% on Thursday after Bank of America raised their price target on the stock from $248.00 to $265.00. Bank of America currently has a buy rating on the stock. Amazon.com traded as high as $234.07 and last traded at $231.96. 19,537,683 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 44,091,180 shares. The stock had previously closed at $228.29.
Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $240.00 to $255.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Stifel Nicolaus cut their price target on shares of Amazon.com from $248.00 to $245.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Rosenblatt Securities lifted their target price on shares of Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. The Goldman Sachs Group decreased their price target on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James Financial reissued an "outperform" rating and set a $195.00 target price (down from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Three analysts have rated the stock with a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $254.33.
Check Out Our Latest Research Report on AMZN
Insider Activity at Amazon.com
In other news, insider Jeffrey P. Bezos sold 4,273,237 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the completion of the transaction, the insider directly owned 897,722,088 shares of the company's stock, valued at approximately $201,816,902,603.28. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 25,102,037 shares of company stock worth $5,674,871,223 over the last ninety days. Corporate insiders own 9.70% of the company's stock.
Institutional Investors Weigh In On Amazon.com
A number of large investors have recently modified their holdings of the stock. Tallon Kerry Patrick purchased a new stake in shares of Amazon.com in the fourth quarter worth $800,000. LaFleur & Godfrey LLC raised its holdings in Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after buying an additional 860 shares during the last quarter. Brighton Jones LLC raised its holdings in Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after buying an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after buying an additional 986 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its holdings in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after buying an additional 54,987 shares during the last quarter. Institutional investors own 72.20% of the company's stock.
Amazon.com Price Performance
The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $2.46 trillion, a PE ratio of 37.69, a PEG ratio of 1.72 and a beta of 1.33. The firm's fifty day simple moving average is $215.66 and its 200-day simple moving average is $208.91.
Amazon.com (NASDAQ:AMZN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm's quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.
About Amazon.com
(
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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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