Amazon.com (NASDAQ:AMZN) Trading 1.5% Higher – Time to Buy?

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was up 1.5% during mid-day trading on Wednesday . The company traded as high as $212.31 and last traded at $212.08. Approximately 13,242,429 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 41,263,684 shares. The stock had previously closed at $208.91.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley boosted their target price on Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Itau BBA Securities downgraded shares of Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price objective on the stock. in a report on Friday, August 2nd. Piper Sandler lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wedbush upped their price target on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Pivotal Research started coverage on shares of Amazon.com in a research note on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective for the company. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $235.45.

Amazon.com Stock Down 1.2 %

The company’s fifty day simple moving average is $189.87 and its 200 day simple moving average is $185.36. 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 firm has a market capitalization of $2.22 trillion, a PE ratio of 45.28, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 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 business had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. Analysts anticipate that Amazon.com, Inc. will post 5.27 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In related news, SVP David Zapolsky sold 9,490 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.88, for a total transaction of $1,716,551.20. Following the completion of the sale, the senior vice president now owns 64,610 shares of the company’s stock, valued at $11,686,656.80. This trade represents a 12.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total value of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares in the company, valued at $21,989,299.44. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,053,349 shares of company stock valued at $1,256,503,289 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently modified their holdings of AMZN. Semus Wealth Partners LLC boosted its position in Amazon.com by 0.3% in the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock worth $3,339,000 after purchasing an additional 49 shares during the last quarter. Bell Investment Advisors Inc increased its holdings in Amazon.com by 1.5% during the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock valued at $626,000 after buying an additional 51 shares during the last quarter. Garrison Point Advisors LLC raised its position in Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares during the period. Meridian Investment Counsel Inc. boosted its stake in shares of Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after acquiring an additional 55 shares during the last quarter. Finally, O Connor Financial Group LLC grew its position in shares of Amazon.com by 2.2% during the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock valued at $473,000 after acquiring an additional 55 shares during the period. 72.20% of the stock is owned by hedge funds and other 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.