Amazon.com (NASDAQ:AMZN) Hits New 12-Month High – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $240.45 and last traded at $239.80, with a volume of 10795097 shares. The stock had previously closed at $235.42.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMZN shares. Evercore ISI increased their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and issued a $280.00 price objective (up previously from $260.00) on shares of Amazon.com in a research report on Monday. DA Davidson reaffirmed a “buy” rating and issued a $235.00 price target on shares of Amazon.com in a research note on Thursday, October 10th. Wolfe Research boosted their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Mizuho upped their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $249.46.

Amazon.com Stock Down 0.5 %

The stock has a 50-day simple moving average of $222.30 and a 200-day simple moving average of $198.30. 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 company has a market cap of $2.48 trillion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The business had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. As a group, analysts predict that Amazon.com, Inc. will post 5.39 EPS for the current year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 5,502 shares of Amazon.com stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares in the company, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction that occurred 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 sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,032,344 shares of company stock valued at $1,253,456,822. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Hedge funds have recently added to or reduced their stakes in the company. Accordant Advisory Group Inc grew its position in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares during the period. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares in the last quarter. Hoese & Co LLP bought a new position in shares of Amazon.com during the 3rd quarter valued at about $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the 3rd quarter worth approximately $45,000. Finally, Quattro Financial Advisors LLC lifted its stake in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares in the last quarter. 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.