Amazon.com (AMZN) Sets New 12-Month High After Analyst Upgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price hit a new 52-week high during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $1,313.00 to $1,425.00. Stifel Nicolaus currently has a buy rating on the stock. Amazon.com traded as high as $1,268.15 and last traded at $1,254.33, with a volume of 2685200 shares trading hands. The stock had previously closed at $1,252.70.

Several other equities analysts also recently issued reports on AMZN. UBS Group reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Amazon.com in a research report on Saturday, September 16th. Loop Capital reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Amazon.com in a research report on Tuesday, September 19th. Argus reiterated a “buy” rating and issued a $1,150.00 price objective on shares of Amazon.com in a research report on Thursday, September 21st. Morgan Stanley reiterated a “buy” rating on shares of Amazon.com in a research report on Monday, September 25th. Finally, Jefferies Group reiterated a “buy” rating and issued a $1,250.00 price objective on shares of Amazon.com in a research report on Tuesday, September 26th. Four analysts have rated the stock with a hold rating and fifty-one have issued a buy rating to the stock. Amazon.com currently has a consensus rating of “Buy” and a consensus target price of $1,262.35.

In related news, CEO Jeffrey P. Bezos sold 391,110 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $1,103.53, for a total transaction of $431,601,618.30. Following the sale, the chief executive officer now owns 79,891,433 shares in the company, valued at $88,162,593,058.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey A. Wilke sold 2,800 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $1,160.34, for a total value of $3,248,952.00. Following the sale, the chief executive officer now owns 10,000 shares in the company, valued at approximately $11,603,400. The disclosure for this sale can be found here. Insiders have sold 402,338 shares of company stock worth $444,391,701 in the last quarter. 17.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Leavell Investment Management Inc. increased its position in Amazon.com by 0.3% during the second quarter. Leavell Investment Management Inc. now owns 394 shares of the e-commerce giant’s stock worth $381,000 after buying an additional 1 shares during the last quarter. Probity Advisors Inc. increased its position in Amazon.com by 0.6% during the second quarter. Probity Advisors Inc. now owns 320 shares of the e-commerce giant’s stock worth $310,000 after buying an additional 2 shares during the last quarter. Venturi Wealth Management LLC increased its position in Amazon.com by 0.3% during the second quarter. Venturi Wealth Management LLC now owns 632 shares of the e-commerce giant’s stock worth $612,000 after buying an additional 2 shares during the last quarter. Regis Management CO LLC increased its position in Amazon.com by 0.9% during the second quarter. Regis Management CO LLC now owns 231 shares of the e-commerce giant’s stock worth $224,000 after buying an additional 2 shares during the last quarter. Finally, Hall Capital Management Co. Inc. increased its position in Amazon.com by 0.8% during the second quarter. Hall Capital Management Co. Inc. now owns 403 shares of the e-commerce giant’s stock worth $390,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 59.78% of the company’s stock.

The stock has a market capitalization of $628,940.00, a PE ratio of 329.60, a price-to-earnings-growth ratio of 7.22 and a beta of 1.46. The company has a quick ratio of 0.74, a current ratio of 1.03 and a debt-to-equity ratio of 1.00.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 26th. The e-commerce giant reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.57). The business had revenue of $43.74 billion for the quarter, compared to analyst estimates of $42.26 billion. Amazon.com had a return on equity of 8.67% and a net margin of 1.20%. Amazon.com’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. sell-side analysts forecast that Amazon.com, Inc. will post 4.24 EPS for the current year.

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About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

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