Amazon.com (NASDAQ:AMZN) Trading Up 2.3% - Time to Buy?

Amazon.com, Inc. (NASDAQ:AMZN)'s stock price shot up 2.3% during mid-day trading on Tuesday . The company traded as high as $214.84 and last traded at $213.41. 20,704,366 shares traded hands during trading, a decline of 55% from the average session volume of 46,014,172 shares. The stock had previously closed at $208.64.

Analyst Upgrades and Downgrades

AMZN has been the subject of several recent research reports. Raymond James reiterated an "outperform" rating and issued a $195.00 price target (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. StockNews.com cut shares of Amazon.com from a "buy" rating to a "hold" rating in a research report on Monday, May 5th. Mizuho decreased their target price on shares of Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company cut their price target on shares of Amazon.com from $207.00 to $203.00 and set an "equal weight" rating for the company in a report on Tuesday, February 25th. Finally, Scotiabank decreased their price objective on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $244.09.

Amazon.com Trading Down 2.7%

The firm's 50 day moving average price is $188.94 and its 200-day moving average price is $208.28. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The stock has a market cap of $2.17 trillion, a P/E ratio of 36.89, a P/E/G ratio of 1.50 and a beta of 1.30.

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 for the quarter, beating 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 firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm's quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the sale, the chief executive officer now owns 2,118,886 shares of the company's stock, valued at $467,532,195.90. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Keith Brian Alexander sold 1,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $210.68, for a total transaction of $210,680.00. Following the completion of the sale, the director now owns 5,465 shares in the company, valued at approximately $1,151,366.20. This trade represents a 15.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,798 shares of company stock worth $17,696,733 over the last three months. 9.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently modified their holdings of AMZN. Evergreen Capital Management LLC grew its position in Amazon.com by 1.9% in the 1st quarter. Evergreen Capital Management LLC now owns 247,050 shares of the e-commerce giant's stock valued at $47,004,000 after acquiring an additional 4,500 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of Amazon.com during the first quarter valued at approximately $784,000. Canada Pension Plan Investment Board raised its stake in shares of Amazon.com by 20.8% during the first quarter. Canada Pension Plan Investment Board now owns 11,347,839 shares of the e-commerce giant's stock valued at $2,159,040,000 after acquiring an additional 1,952,356 shares in the last quarter. JDM Financial Group LLC grew its stake in Amazon.com by 9.1% in the first quarter. JDM Financial Group LLC now owns 2,310 shares of the e-commerce giant's stock worth $440,000 after purchasing an additional 192 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC increased its holdings in Amazon.com by 494.9% during the 1st quarter. Safe Harbor Fiduciary LLC now owns 10,352 shares of the e-commerce giant's stock worth $1,970,000 after purchasing an additional 8,612 shares during the period. Institutional investors own 72.20% of the company's stock.

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.