Amazon.com (NASDAQ:AMZN) Trading 1.2% Higher After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares traded up 1.2% on Thursday after Truist Financial raised their price target on the stock from $226.00 to $250.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as high as $224.01 and last traded at $222.46. 16,429,762 shares were traded during trading, a decline of 63% from the average session volume of 44,878,305 shares. The stock had previously closed at $219.92.

A number of other research analysts also recently weighed in on AMZN. Jefferies Financial Group cut their price target on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. UBS Group reissued a "buy" rating on shares of Amazon.com in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reduced their price target on Amazon.com from $287.00 to $206.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Bank of America increased their price objective on Amazon.com from $230.00 to $248.00 and gave the company a "buy" rating in a report on Monday, June 2nd. Finally, Tigress Financial raised their price objective on Amazon.com from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and an average target price of $245.60.

Insider Buying and Selling at Amazon.com

In other news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total transaction of $4,000,233.60. Following the sale, the chief executive officer directly owned 2,148,694 shares of the company's stock, valued at $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian T. Olsavsky sold 17,750 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $201.57, for a total transaction of $3,577,867.50. Following the completion of the transaction, the chief financial officer owned 49,000 shares of the company's stock, valued at $9,876,930. This trade represents a 26.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,426,963 shares of company stock worth $757,297,707 over the last quarter. Corporate insiders own 9.70% of the company's stock.

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Tallon Kerry Patrick acquired a new position in shares of Amazon.com in the 4th quarter valued at $800,000. Capital & Planning LLC lifted its stake in Amazon.com by 72.1% in the fourth quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock valued at $856,000 after buying an additional 1,635 shares during the period. LaFleur & Godfrey LLC boosted its holdings in Amazon.com by 1.8% during 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 grew its position in shares of Amazon.com by 10.9% during the 4th 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 period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Amazon.com in the 4th quarter valued at about $301,650,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 1.5%

The business's 50-day moving average is $205.76 and its two-hundred day moving average is $208.76. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 36.34, a P/E/G ratio of 1.66 and a beta of 1.33. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) 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 company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The firm's revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current 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.