Amazon.com (NASDAQ:AMZN) Trading 1.8% Higher – Here’s What Happened

Shares of Amazon.com, Inc. (NASDAQ:AMZN) shot up 1.8% on Thursday . The stock traded as high as $225.15 and last traded at $223.24. 11,375,995 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 40,988,457 shares. The stock had previously closed at $219.39.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMZN shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $197.00 target price on shares of Amazon.com in a research note on Wednesday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Amazon.com from $225.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Evercore ISI lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reissued an “outperform” rating and set a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.44.

Amazon.com Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average price is $213.07 and its two-hundred day moving average price is $194.05. The stock has a market cap of $2.36 trillion, a P/E ratio of 48.01, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares of the company’s stock, valued at $20,273,459.55. The trade was a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. 10.80% of the stock is owned by corporate 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 raised its holdings in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after acquiring an additional 25,581 shares during the last quarter. PayPay Securities Corp raised its stake in shares of Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the third quarter valued at $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com during the third quarter valued at $45,000. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the 3rd quarter worth about $56,000. 72.20% of the stock is currently owned by institutional investors.

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.