Wells Fargo & Company Boosts Amazon.com (NASDAQ:AMZN) Price Target to $212.00

Amazon.com (NASDAQ:AMZN) had its price objective boosted by research analysts at Wells Fargo & Company from $197.00 to $212.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the e-commerce giant's stock. Wells Fargo & Company's price target would indicate a potential downside of 2.65% from the company's previous close.

Several other brokerages have also commented on AMZN. Pivotal Research initiated coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a "buy" rating and a $260.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $250.00 price objective on shares of Amazon.com in a research note on Tuesday, December 10th. Susquehanna raised their target price on Amazon.com from $220.00 to $230.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Evercore ISI upped their price target on Amazon.com from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Benchmark increased their price target on Amazon.com from $200.00 to $215.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.65.

Amazon.com Stock Down 0.3 %

NASDAQ AMZN traded down $0.70 on Tuesday, reaching $217.76. The company had a trading volume of 24,660,883 shares, compared to its average volume of 29,395,736. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company's fifty day moving average is $216.66 and its 200 day moving average is $195.57. Amazon.com has a 52-week low of $149.91 and a 52-week high of $233.00. The stock has a market capitalization of $2.29 trillion, a P/E ratio of 46.63, a P/E/G ratio of 1.54 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The business's revenue was up 11.0% compared to the same quarter last year. Sell-side analysts anticipate that Amazon.com will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Matthew S. Garman sold 15,260 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company's stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock worth $1,253,456,822 in the last three months. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors and hedge funds have recently modified their holdings of the stock. Icon Wealth Advisors LLC lifted its holdings in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after purchasing an additional 25,581 shares in the last quarter. PayPay Securities Corp raised its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant's stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com in the third quarter worth approximately $37,000. Bull Oak Capital LLC purchased a new position in shares of Amazon.com during the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the third quarter valued at approximately $56,000. 72.20% of the stock is currently owned by institutional investors.

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.