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

Amazon.com (NASDAQ:AMZN) had its price objective boosted by equities researchers at Wells Fargo & Company from $197.00 to $212.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the e-commerce giant’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 3.23% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Tigress Financial boosted their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Redburn Atlantic boosted their price objective on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus lifted their target price on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Amazon.com in a research report on Monday, October 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $245.65.

Amazon.com Stock Up 0.3 %

AMZN traded up $0.61 during midday trading on Tuesday, reaching $219.07. 7,138,555 shares of the company were exchanged, compared to its average volume of 27,058,551. The company has a market cap of $2.30 trillion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The company’s fifty day moving average price is $216.66 and its 200 day moving average price is $195.57. Amazon.com has a one year low of $149.91 and a one year high of $233.00.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, analysts expect that Amazon.com will post 5.29 EPS for the current year.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction 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 sale, the insider now owns 917,416,976 shares of the company’s stock, valued at approximately $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction 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 represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors have recently made changes to their positions in AMZN. Semus Wealth Partners LLC grew its position in shares of Amazon.com by 0.3% during the 3rd 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 in the last quarter. Bell Investment Advisors Inc increased its stake in shares of Amazon.com by 1.5% in the third quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant’s stock worth $626,000 after purchasing an additional 51 shares in the last quarter. O Connor Financial Group LLC grew its stake in Amazon.com by 2.2% in the 3rd quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant’s stock worth $473,000 after buying an additional 55 shares in the last quarter. Cherrydale Wealth Management LLC raised its holdings in Amazon.com by 0.7% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 7,492 shares of the e-commerce giant’s stock valued at $1,396,000 after buying an additional 55 shares during the last quarter. Finally, Cedar Point Capital Partners LLC increased its position in Amazon.com by 4.4% during the 3rd quarter. Cedar Point Capital Partners LLC now owns 1,324 shares of the e-commerce giant’s stock valued at $247,000 after purchasing an additional 56 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.