Amazon.com (NASDAQ:AMZN) Trading Up 2.2% After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares shot up 2.2% on Wednesday after Tigress Financial raised their price target on the stock from $290.00 to $305.00. Tigress Financial currently has a buy rating on the stock. Amazon.com traded as high as $190.99 and last traded at $189.08. 13,620,378 shares changed hands during trading, a decline of 67% from the average session volume of 41,543,133 shares. The stock had previously closed at $185.01.

A number of other research analysts also recently commented on the stock. Piper Sandler reiterated an "overweight" rating and set a $212.00 price objective (down from $215.00) on shares of Amazon.com in a research note on Friday, May 2nd. Needham & Company LLC reissued a "buy" rating and issued a $220.00 price objective on shares of Amazon.com in a report on Friday, May 2nd. StockNews.com downgraded Amazon.com from a "buy" rating to a "hold" rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on Amazon.com from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Bank of America reduced their price objective on Amazon.com from $257.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Four analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $244.09.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares of the company's stock, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $190.67, for a total value of $476,675.00. Following the completion of the transaction, the chief executive officer now directly owns 506,974 shares of the company's stock, valued at approximately $96,664,732.58. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,298 shares of company stock valued at $23,818,478. 9.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Several large investors have recently modified their holdings of AMZN. Prudent Man Investment Management Inc. bought a new stake in Amazon.com in the 4th quarter worth about $27,000. Accordant Advisory Group Inc increased its position in shares of Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. LSV Asset Management bought a new stake in Amazon.com during the fourth quarter worth $35,000. Perritt Capital Management Inc boosted its position in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock worth $42,000 after purchasing an additional 80 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new position in Amazon.com in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Stock Up 1.9 %

The stock has a 50 day moving average price of $189.45 and a 200 day moving average price of $207.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The company has a market capitalization of $2.00 trillion, a P/E ratio of 34.06, a PEG ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data 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. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share 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.

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