Shares of Amazon.com, Inc. (NASDAQ:AMZN) rose 1.2% during mid-day trading on Wednesday 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 $224.29 and last traded at $221.91. Approximately 13,986,526 shares changed hands during trading, a decline of 67% from the average daily volume of 41,946,276 shares. The stock had previously closed at $219.36.
Other equities research analysts have also issued research reports about the stock. Benchmark restated a "buy" rating and set a $260.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. Moffett Nathanson raised their price target on shares of Amazon.com from $250.00 to $253.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Royal Bank Of Canada decreased their price target on shares of Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. BNP Paribas Exane upgraded shares of Amazon.com from a "neutral" rating to an "outperform" rating and set a $254.00 price target for the company in a research note on Friday, June 27th. Finally, Needham & Company LLC restated a "buy" rating and set a $220.00 price target on shares of Amazon.com in a research note on Friday, May 2nd. 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $249.42.
Read Our Latest Stock Analysis on AMZN
Insider Activity at Amazon.com
In other news, insider Jeffrey P. Bezos sold 384,124 shares of Amazon.com stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $224.02, for a total transaction of $86,051,458.48. Following the completion of the sale, the insider directly owned 901,995,325 shares of the company's stock, valued at approximately $202,064,992,706.50. The trade was a 0.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total transaction of $550,150.00. Following the sale, the chief executive officer directly owned 514,550 shares of the company's stock, valued at $113,231,873. This represents a 0.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,886,613 shares of company stock valued at $1,531,840,610. 9.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Amazon.com
A number of large investors have recently added to or reduced their stakes in AMZN. Castlekeep Investment Advisors LLC purchased a new position in Amazon.com in the 4th quarter worth $25,000. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the 4th quarter worth $27,000. Carderock Capital Management Inc. purchased a new position in Amazon.com in the 2nd quarter worth $27,000. LSV Asset Management purchased a new position in Amazon.com in the 4th quarter worth $35,000. Finally, Cooksen Wealth LLC purchased a new position in Amazon.com in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 72.20% of the company's stock.
Amazon.com Price Performance
The business's 50-day simple moving average is $209.90 and its 200-day simple moving average is $208.63. The stock has a market cap of $2.39 trillion, a PE ratio of 36.65, a PEG ratio of 1.67 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17.
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 (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $154.96 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.
Amazon.com Company Profile
(
Get Free Report)
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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