Amazon.com (NASDAQ:AMZN) Shares Up 0.6% – Here’s Why

Shares of Amazon.com, Inc. (NASDAQ:AMZN) shot up 0.6% during mid-day trading on Monday . The stock traded as high as $204.38 and last traded at $203.76. 7,467,206 shares traded hands during trading, a decline of 82% from the average session volume of 41,478,035 shares. The stock had previously closed at $202.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMZN shares. Loop Capital boosted their target price on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Piper Sandler raised their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a report on Monday, October 7th. Truist Financial increased their price target on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price objective (up from $230.00) on shares of Amazon.com in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.45.

Amazon.com Stock Down 0.4 %

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 firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 43.63, a PEG ratio of 1.36 and a beta of 1.14. The stock has a fifty day moving average of $191.16 and a 200-day moving average of $185.81.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 EPS. As a group, sell-side analysts expect that Amazon.com, Inc. will post 5.27 EPS for the current year.

Insider Activity

In other news, 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 transaction of $625,790,203.70. Following the completion of the transaction, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now owns 62,420 shares of the company’s stock, valued at $12,171,900. This trade represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,053,349 shares of company stock worth $1,256,503,289. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently modified their holdings of AMZN. Vanguard Group Inc. grew its position in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares in the last quarter. State Street Corp raised its position in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after buying an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amazon.com by 3.4% in the 3rd quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the last quarter. Capital Research Global Investors increased its position in shares of Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Institutional investors and hedge funds 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.