Truist Financial Boosts Amazon.com (NASDAQ:AMZN) Price Target to $220.00

Amazon.com (NASDAQ:AMZN) had its target price hoisted by Truist Financial from $216.00 to $220.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the e-commerce giant’s stock.

Other equities analysts have also issued reports about the stock. Royal Bank of Canada raised their price target on shares of Amazon.com from $180.00 to $215.00 and gave the stock an outperform rating in a research report on Friday, February 2nd. TD Cowen raised their price objective on Amazon.com from $200.00 to $225.00 and gave the company an outperform rating in a report on Friday, February 2nd. Wells Fargo & Company lifted their price target on Amazon.com from $211.00 to $217.00 and gave the stock an overweight rating in a report on Monday, April 1st. Mizuho lifted their price target on Amazon.com from $230.00 to $240.00 and gave the stock a buy rating in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Amazon.com from $185.00 to $200.00 and gave the company an overweight rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $211.07.

Amazon.com Trading Up 0.8 %

NASDAQ AMZN opened at $186.21 on Wednesday. The company’s 50-day moving average price is $178.79 and its 200-day moving average price is $159.95. The company has a current ratio of 1.07, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27. The stock has a market cap of $1.93 trillion, a PE ratio of 52.16, a PEG ratio of 1.55 and a beta of 1.15. Amazon.com has a 12 month low of $103.31 and a 12 month high of $189.77.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. Equities research analysts forecast that Amazon.com will post 4.12 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total transaction of $523,807.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at approximately $20,239,226.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,100 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $168.97, for a total value of $523,807.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at approximately $20,239,226.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $180.00, for a total value of $90,000.00. Following the completion of the transaction, the chief executive officer now directly owns 132,600 shares of the company’s stock, valued at $23,868,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,217,010 shares of company stock worth $5,506,442,301. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Amazon.com in the 4th quarter worth $17,700,551,000. Vanguard Group Inc. boosted its position in shares of Amazon.com by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 757,951,795 shares of the e-commerce giant’s stock worth $96,350,832,000 after purchasing an additional 32,038,029 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Amazon.com by 16,029.3% in the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after purchasing an additional 23,717,254 shares during the last quarter. FMR LLC boosted its position in shares of Amazon.com by 7.7% in the 3rd quarter. FMR LLC now owns 302,101,441 shares of the e-commerce giant’s stock worth $38,403,135,000 after purchasing an additional 21,649,871 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Amazon.com by 28.4% in the 3rd quarter. Jennison Associates LLC now owns 54,981,548 shares of the e-commerce giant’s stock worth $6,989,254,000 after purchasing an additional 12,176,114 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

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.