Canaccord Genuity Group Increases Amazon.com (NASDAQ:AMZN) Price Target to $280.00

Amazon.com (NASDAQ:AMZN) had its price target hoisted by investment analysts at Canaccord Genuity Group from $265.00 to $280.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the e-commerce giant’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 22.22% from the company’s current price.

AMZN has been the topic of several other research reports. Tigress Financial raised their price target on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Redburn Atlantic lifted their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their target price on shares of Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Benchmark lifted their target price on shares of Amazon.com from $215.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $256.65.

Amazon.com Price Performance

NASDAQ AMZN traded down $9.73 on Friday, hitting $229.10. 57,658,100 shares of the company’s stock were exchanged, compared to its average volume of 35,049,516. The stock has a 50-day moving average of $226.51 and a 200-day moving average of $200.30. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com has a 52 week low of $151.61 and a 52 week high of $242.52. The stock has a market cap of $2.41 trillion, a price-to-earnings ratio of 49.06, a P/E/G ratio of 1.35 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 return on equity of 22.41% and a net margin of 8.04%. Analysts expect that Amazon.com will post 5.3 earnings per share for the current year.

Insider Buying and Selling at Amazon.com

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

Institutional Trading of Amazon.com

Several institutional investors have recently made changes to their positions in the stock. Rench Wealth Management Inc. raised its position in shares of Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares during the period. Foundations Investment Advisors LLC increased its position in Amazon.com by 9.7% during the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock worth $34,395,000 after acquiring an additional 16,392 shares during the period. Blankinship & Foster LLC increased its position in Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after acquiring an additional 4,740 shares during the period. Umpqua Bank increased its position in Amazon.com by 0.4% during the third quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after acquiring an additional 137 shares during the period. Finally, One Wealth Capital Management LLC bought a new position in Amazon.com during the fourth quarter worth $4,270,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.