Amazon.com’s (AMZN) Outperform Rating Reiterated at Wedbush

Amazon.com (NASDAQ:AMZN)‘s stock had its “outperform” rating reiterated by Wedbush in a report released on Friday,RTT News reports. They presently have a $280.00 price target on the e-commerce giant’s stock. Wedbush’s price objective would suggest a potential upside of 21.94% from the stock’s current price.

AMZN has been the topic of a number of other research reports. Piper Sandler reissued an “overweight” rating and issued a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research report on Friday. Pivotal Research began coverage on shares of Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 price objective on the stock. Wolfe Research boosted their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a research report on Friday. Finally, Tigress Financial boosted their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.80.

Amazon.com Stock Down 3.9 %

AMZN traded down $9.21 during trading on Friday, reaching $229.62. The company had a trading volume of 16,646,137 shares, compared to its average volume of 33,080,367. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com has a 12 month low of $151.61 and a 12 month high of $242.52. The business’s fifty day moving average price is $226.51 and its 200 day moving average price is $200.30. The company has a market cap of $2.41 trillion, a P/E ratio of 49.17, a PEG ratio of 1.35 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Equities analysts anticipate that Amazon.com will post 5.3 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the transaction, the insider now owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,026,212 shares of company stock valued at $625,666,424. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its holdings in Amazon.com by 20,897.2% during the third quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after purchasing an additional 38,949,065 shares during the period. Proficio Capital Partners LLC raised its position in shares of Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after buying an additional 12,018,120 shares in the last quarter. Parnassus Investments LLC raised its position in Amazon.com by 82,457.3% during the third quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after purchasing an additional 11,391,479 shares in the last quarter. State Street Corp raised its position in Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock worth $37,116,341,000 after buying an additional 6,545,944 shares during the period. 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.