Amazon.com (NASDAQ:AMZN) Shares Up 2.7%

Amazon.com, Inc. (NASDAQ:AMZN) shares rose 2.7% on Thursday . The company traded as high as $179.88 and last traded at $178.00. Approximately 15,488,057 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 42,373,551 shares. The stock had previously closed at $173.33.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMZN shares. Piper Sandler cut their price objective on shares of Amazon.com from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Tigress Financial increased their price objective on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company decreased their target price on shares of Amazon.com from $232.00 to $225.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. JMP Securities raised their price objective on shares of Amazon.com from $245.00 to $265.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, Bank of America lowered their target price on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $222.49.

Amazon.com Stock Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 1.10. The company’s 50 day moving average is $181.93 and its 200 day moving average is $181.20. The firm has a market cap of $1.85 trillion, a P/E ratio of 49.86, a P/E/G ratio of 1.34 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. As a group, equities analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the transaction, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now directly owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Shelley Reynolds sold 3,791 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares in the company, valued at approximately $21,989,299.44. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock valued at $1,220,621,322 in the last three months. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds have recently made changes to their positions in the stock. DecisionPoint Financial LLC lifted its holdings in shares of Amazon.com by 221.9% in the 4th quarter. DecisionPoint Financial LLC now owns 3,219 shares of the e-commerce giant’s stock worth $489,000 after acquiring an additional 2,219 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Amazon.com by 0.8% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,210,725 shares of the e-commerce giant’s stock worth $183,958,000 after buying an additional 9,082 shares during the last quarter. Telos Capital Management Inc. lifted its position in Amazon.com by 0.8% in the 4th quarter. Telos Capital Management Inc. now owns 94,854 shares of the e-commerce giant’s stock valued at $14,412,000 after acquiring an additional 784 shares in the last quarter. Archer Investment Corp lifted its stake in shares of Amazon.com by 2.3% in the 4th quarter. Archer Investment Corp now owns 13,268 shares of the e-commerce giant’s stock worth $2,016,000 after purchasing an additional 300 shares during the period. Finally, Oakworth Capital Inc. boosted its holdings in shares of Amazon.com by 4.4% in the fourth quarter. Oakworth Capital Inc. now owns 21,684 shares of the e-commerce giant’s stock worth $3,295,000 after buying an additional 910 shares during the last quarter. 72.20% of the stock is currently 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.