Telsey Advisory Group Reaffirms Outperform Rating for Amazon.com (NASDAQ:AMZN)

Telsey Advisory Group reaffirmed their outperform rating on shares of Amazon.com (NASDAQ:AMZN) in a report released on Thursday,Benzinga reports. They currently have a $235.00 price objective on the e-commerce giant's stock.

A number of other brokerages have also recently issued reports on AMZN. Citigroup reissued a "market outperform" rating on shares of Amazon.com in a research report on Thursday. Piper Sandler reaffirmed an "overweight" rating and set a $212.00 price target (down from $215.00) on shares of Amazon.com in a report on Friday, May 2nd. Mizuho lowered their target price on Amazon.com from $285.00 to $255.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Sanford C. Bernstein set a $235.00 price target on shares of Amazon.com and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, BNP Paribas upgraded Amazon.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $249.42.

Amazon.com Stock Up 1.2%

Shares of NASDAQ AMZN traded up $2.76 during trading hours on Thursday, hitting $225.02. The company had a trading volume of 50,481,094 shares, compared to its average volume of 42,135,277. The stock has a market capitalization of $2.39 trillion, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 1.69 and a beta of 1.33. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.17. The firm's 50 day moving average is $209.90 and its 200-day moving average is $208.36. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The company had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period last year, the firm posted $0.98 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. On average, analysts expect that Amazon.com will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 2,695 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total transaction of $541,129.05. Following the completion of the transaction, the vice president directly owned 119,780 shares of the company's stock, valued at approximately $24,050,626.20. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $220.06, for a total value of $550,150.00. Following the transaction, the chief executive officer owned 514,550 shares of the company's stock, valued at $113,231,873. The trade was a 0.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,886,613 shares of company stock valued at $1,531,840,610. Insiders own 10.80% of the company's stock.

Institutional Trading of Amazon.com

Several hedge funds and other institutional investors have recently modified their holdings of AMZN. Tallon Kerry Patrick bought a new position in Amazon.com in the 4th quarter worth about $800,000. Capital & Planning LLC increased its stake in shares of Amazon.com by 72.1% in the fourth quarter. Capital & Planning LLC now owns 3,902 shares of the e-commerce giant's stock worth $856,000 after buying an additional 1,635 shares during the period. LaFleur & Godfrey LLC raised its stake in shares of Amazon.com by 1.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock valued at $10,839,000 after acquiring an additional 860 shares during the last quarter. Brighton Jones LLC lifted its holdings in Amazon.com by 10.9% in 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 purchased a new stake in Amazon.com in the fourth quarter worth $301,650,000. Institutional investors own 72.20% of the company's stock.

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.