Amazon.com (NASDAQ:AMZN) Trading 1.1% Higher on Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) rose 1.1% during mid-day trading on Friday after Piper Sandler raised their price target on the stock from $212.00 to $250.00. Piper Sandler currently has an overweight rating on the stock. Amazon.com traded as high as $224.88 and last traded at $224.60. Approximately 16,887,094 shares traded hands during trading, a decline of 60% from the average daily volume of 41,978,694 shares. The stock had previously closed at $222.26.

Several other equities research analysts have also recently commented on the company. BNP Paribas raised Amazon.com from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Needham & Company LLC reissued a "buy" rating and set a $220.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Scotiabank cut their target price on Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Wedbush reissued an "outperform" rating and set a $235.00 target price (up previously from $225.00) on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Westpark Capital reissued a "buy" rating and set a $280.00 target price on shares of Amazon.com in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Amazon.com has a consensus rating of "Moderate Buy" and a consensus price target of $249.42.

Insider Transactions at Amazon.com

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the sale, the chief executive officer owned 514,550 shares in the company, valued at $113,231,873. This represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Shelley Reynolds sold 2,695 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the sale, the vice president owned 119,780 shares in the company, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,886,613 shares of company stock worth $1,531,840,610. 9.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amazon.com

Large investors have recently bought and sold shares of the stock. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com during the 4th quarter valued at $25,000. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com during the 4th quarter worth $27,000. Carderock Capital Management Inc. purchased a new position in shares of Amazon.com during the 2nd quarter worth $27,000. LSV Asset Management purchased a new position in shares of Amazon.com during the 4th quarter worth $35,000. Finally, Cooksen Wealth LLC purchased a new position in shares of Amazon.com during the 1st quarter worth $36,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Trading Up 1.2%

The company has a market cap of $2.39 trillion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 1.67 and a beta of 1.33. The business has a 50 day simple moving average of $209.90 and a two-hundred day simple moving average of $208.63. The company has a current ratio of 1.05, a quick ratio of 0.84 and a debt-to-equity ratio of 0.17.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Amazon.com Company Profile

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.