Amazon.com (NASDAQ:AMZN) Trading Up 7.2% - Here's Why

Amazon.com, Inc. (NASDAQ:AMZN)'s stock price shot up 7.2% on Monday . The company traded as high as $211.66 and last traded at $207.02. 36,289,109 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 41,709,314 shares. The stock had previously closed at $193.06.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Truist Financial cut their target price on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. The Goldman Sachs Group reduced their target price on shares of Amazon.com from $255.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James restated an "outperform" rating and issued a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $244.09.

Amazon.com Trading Down 0.3%

The company has a market capitalization of $2.24 trillion, a P/E ratio of 38.09, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average price of $188.72 and a 200 day moving average price of $208.27.

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

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated 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 transaction, the chief executive officer now owns 2,118,886 shares of the company's stock, valued at approximately $467,532,195.90. This trade represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the company's stock in a transaction on Thursday, May 1st. The shares were 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 owns 506,974 shares of the company's stock, valued at $96,664,732.58. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,798 shares of company stock valued at $17,486,053 in the last ninety days. 9.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC raised its holdings in shares of Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant's stock valued at $2,104,000 after purchasing an additional 44 shares during the last quarter. Quattro Financial Advisors LLC grew its position in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares during the last quarter. Northern Capital Management Inc. raised its position in Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant's stock worth $1,613,000 after acquiring an additional 45 shares during the last quarter. White Wing Wealth Management increased its position in shares of Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant's stock worth $433,000 after acquiring an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its holdings in shares of Amazon.com by 0.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant's stock worth $1,889,000 after purchasing an additional 48 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

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.