Amazon.com (NASDAQ:AMZN) Price Target Raised to $304.00

Amazon.com (NASDAQ:AMZN) had its price target upped by BMO Capital Markets from $300.00 to $304.00 in a report published on Tuesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the e-commerce giant’s stock.

Several other equities research analysts have also weighed in on AMZN. Canaccord Genuity Group set a $300.00 target price on shares of Amazon.com and gave the stock a “buy” rating in a report on Friday, October 31st. Oppenheimer reaffirmed an “outperform” rating and set a $305.00 price objective (up previously from $290.00) on shares of Amazon.com in a research note on Monday, December 1st. UBS Group set a $300.00 target price on Amazon.com in a research note on Friday, December 5th. Benchmark increased their price target on Amazon.com from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective (up from $292.00) on shares of Amazon.com in a research report on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $295.50.

Amazon.com Trading Up 2.5%

NASDAQ AMZN opened at $226.76 on Tuesday. Amazon.com has a 12 month low of $161.38 and a 12 month high of $258.60. The stock has a 50-day simple moving average of $229.30 and a 200 day simple moving average of $225.24. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2.42 trillion, a PE ratio of 32.03, a P/E/G ratio of 1.52 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.38. The firm had revenue of $180.17 billion for the quarter, compared to analysts’ expectations of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 earnings per share. Research analysts forecast that Amazon.com will post 6.31 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $226.61, for a total transaction of $280,316.57. Following the transaction, the director owned 26,148 shares of the company’s stock, valued at $5,925,398.28. The trade was a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan Rubinstein sold 8,173 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $250.03, for a total value of $2,043,495.19. Following the completion of the sale, the director directly owned 80,030 shares of the company’s stock, valued at approximately $20,009,900.90. The trade was a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 82,234 shares of company stock worth $19,076,767. Corporate insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Institutional investors and hedge funds have recently modified their holdings of the company. Wilson Asset Management International PTY Ltd. purchased a new stake in shares of Amazon.com in the second quarter worth approximately $11,102,000. ARK Investment Management LLC grew its holdings in Amazon.com by 8.3% during the second quarter. ARK Investment Management LLC now owns 1,140,494 shares of the e-commerce giant’s stock worth $250,213,000 after buying an additional 86,978 shares in the last quarter. Buckhead Capital Management LLC raised its position in Amazon.com by 16.1% in the 2nd quarter. Buckhead Capital Management LLC now owns 28,407 shares of the e-commerce giant’s stock valued at $6,232,000 after buying an additional 3,948 shares during the last quarter. Flaharty Asset Management LLC lifted its stake in Amazon.com by 87.7% during the 1st quarter. Flaharty Asset Management LLC now owns 5,088 shares of the e-commerce giant’s stock valued at $968,000 after acquiring an additional 2,377 shares in the last quarter. Finally, Border to Coast Pensions Partnership Ltd boosted its holdings in Amazon.com by 6.0% during the 2nd quarter. Border to Coast Pensions Partnership Ltd now owns 1,136,311 shares of the e-commerce giant’s stock worth $249,295,000 after acquiring an additional 63,924 shares during the last quarter. 72.20% of the stock is owned by 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.