Amazon.com (NASDAQ:AMZN) Sets New 1-Year High on Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN) hit a new 52-week high during mid-day trading on Tuesday after Benchmark raised their price target on the stock from $215.00 to $265.00. Benchmark currently has a buy rating on the stock. Amazon.com traded as high as $241.83 and last traded at $241.41, with a volume of 7384339 shares. The stock had previously closed at $237.42.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI lifted their price target on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of Amazon.com from $197.00 to $212.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. DA Davidson restated a “buy” rating and set a $235.00 price target on shares of Amazon.com in a research report on Thursday, October 10th. Stifel Nicolaus raised their price target on shares of Amazon.com from $224.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and set a $280.00 price target (up from $260.00) on shares of Amazon.com in a research report on Monday, January 27th. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $252.56.

Insider Activity

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction dated 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 directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available 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 shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,027,340 shares of company stock valued at $1,252,456,773. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rench Wealth Management Inc. increased its stake in Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Amazon.com by 9.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after acquiring an additional 16,392 shares during the period. Blankinship & Foster LLC grew its stake in shares of Amazon.com by 216.4% during the 3rd quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after buying an additional 4,740 shares during the period. Umpqua Bank increased its stake in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after acquiring an additional 137 shares during the last quarter. Finally, One Wealth Capital Management LLC purchased a new position in Amazon.com in the fourth quarter valued at approximately $4,270,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Up 1.7 %

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 stock has a market capitalization of $2.54 trillion, a PE ratio of 51.69, a PEG ratio of 1.35 and a beta of 1.15. The business’s 50-day moving average is $223.83 and its two-hundred day moving average is $198.98.

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.