Shares of Amazon.com, Inc. (NASDAQ:AMZN) were up 1.2% during mid-day trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $201.00 to $238.00. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com traded as high as $224.29 and last traded at $221.91. Approximately 13,986,526 shares were traded 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 reports about the stock. Rosenblatt Securities increased 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. Mizuho reduced their price target on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Citizens Jmp reduced their price target on shares of Amazon.com from $285.00 to $240.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $220.00 price target on shares of Amazon.com in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada reduced 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 report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, forty-six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $246.41.
Check Out Our Latest Research Report on AMZN
Insider Activity
In related news, CEO Matthew S. Garman sold 20,923 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,211,799.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian T. Olsavsky sold 17,750 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total value of $3,577,867.50. Following the transaction, the chief financial officer directly owned 49,000 shares in the company, valued at approximately $9,876,930. This represents a 26.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,401,408 shares of company stock valued at $1,423,159,137. Insiders own 9.70% of the company's stock.
Hedge Funds Weigh In On Amazon.com
A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Norges Bank purchased a new stake in Amazon.com in the 4th quarter valued at approximately $27,266,582,000. Nuveen LLC purchased a new stake in Amazon.com in the 1st quarter valued at approximately $11,674,091,000. GAMMA Investing LLC boosted its stake in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant's stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares in the last quarter. Capital World Investors boosted its stake in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant's stock worth $14,416,078,000 after acquiring an additional 17,681,004 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Amazon.com by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock worth $180,637,081,000 after acquiring an additional 17,635,391 shares in the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.
Amazon.com Price Performance
The company has a 50 day moving average price of $207.80 and a 200 day moving average price of $208.58. The firm has a market cap of $2.36 trillion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 1.65 and a beta of 1.33. 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 announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. On average, sell-side analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current 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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