Amazon.com (NASDAQ:AMZN) Trading 1.6% Higher – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price shot up 1.6% during trading on Tuesday . The company traded as high as $229.14 and last traded at $228.59. 6,041,946 shares traded hands during trading, a decline of 85% from the average session volume of 41,218,738 shares. The stock had previously closed at $225.06.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AMZN. Scotiabank upped their target price on shares of Amazon.com from $245.00 to $246.00 and gave the company a “sector outperform” rating in a research note on Friday, November 1st. Loop Capital increased their target price on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Truist Financial boosted their price target on Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Sanford C. Bernstein increased their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley boosted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.00.

Amazon.com Price Performance

The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.05, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The company has a 50-day simple moving average of $206.58 and a two-hundred day simple moving average of $191.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.85 earnings per share. As a group, equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of Amazon.com stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 over the last ninety days. 10.80% of the stock is currently owned by company insiders.

Institutional Trading of Amazon.com

A number of institutional investors have recently bought and sold shares of AMZN. Icon Wealth Advisors LLC lifted its stake in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in shares of Amazon.com during the 3rd quarter worth $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com in the third quarter valued at about $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com in the third quarter valued at about $56,000. Institutional investors 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.