Amazon.com (NASDAQ:AMZN) Shares Up 0.9% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)'s share price rose 0.9% during trading on Monday after UBS Group raised their price target on the stock from $230.00 to $264.00. UBS Group currently has a buy rating on the stock. Amazon.com traded as high as $232.08 and last traded at $229.57. Approximately 8,248,544 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 41,119,066 shares. The stock had previously closed at $227.46.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI upped their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Loop Capital upped their target price on shares of Amazon.com from $225.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Truist Financial raised their price target on shares of Amazon.com from $265.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Telsey Advisory Group upped their price objective on Amazon.com from $215.00 to $235.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Mizuho lifted their target price on Amazon.com from $240.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com has an average rating of "Moderate Buy" and a consensus price target of $240.67.

Insider Activity at Amazon.com

In other news, Director Jonathan Rubinstein sold 5,004 shares of Amazon.com stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $199.85, for a total value of $1,000,049.40. Following the sale, the director now directly owns 99,396 shares of the company's stock, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now directly owns 62,420 shares of the company's stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,034,534 shares of company stock valued at $1,253,883,872. 10.80% of the stock is owned by company insiders.

Institutional Trading of Amazon.com

Hedge funds have recently modified their holdings of the company. Stonehearth Capital Management LLC bought a new position in shares of Amazon.com during the 2nd quarter valued at approximately $205,000. HBW Advisory Services LLC increased its position in Amazon.com by 7.0% during the second quarter. HBW Advisory Services LLC now owns 49,825 shares of the e-commerce giant's stock valued at $9,629,000 after acquiring an additional 3,274 shares during the last quarter. Stokes Family Office LLC raised its stake in shares of Amazon.com by 3.5% in the second quarter. Stokes Family Office LLC now owns 35,231 shares of the e-commerce giant's stock valued at $6,808,000 after acquiring an additional 1,185 shares during the period. Heritage Wealth Partners LLC lifted its holdings in shares of Amazon.com by 16.0% in the 2nd quarter. Heritage Wealth Partners LLC now owns 13,887 shares of the e-commerce giant's stock worth $2,684,000 after acquiring an additional 1,916 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Amazon.com by 59.2% during the 2nd quarter. Versant Capital Management Inc now owns 7,607 shares of the e-commerce giant's stock valued at $1,470,000 after purchasing an additional 2,828 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

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 company has a market capitalization of $2.45 trillion, a P/E ratio of 49.88, a P/E/G ratio of 1.54 and a beta of 1.16. The firm's fifty day moving average is $202.70 and its 200 day moving average is $190.16.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to analysts' expectations of $157.28 billion. During the same quarter in the prior year, the firm posted $0.85 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. As a group, analysts predict that Amazon.com, Inc. will post 5.29 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.