Amazon.com (NASDAQ:AMZN) Trading 1.9% Higher – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN) shares were up 1.9% during mid-day trading on Tuesday . The stock traded as high as $205.36 and last traded at $204.81. Approximately 10,730,051 shares traded hands during trading, a decline of 74% from the average daily volume of 41,898,935 shares. The stock had previously closed at $200.99.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AMZN. UBS Group restated a “buy” rating on shares of Amazon.com in a research report on Tuesday, May 6th. Evercore ISI lowered their target price on shares of Amazon.com from $270.00 to $260.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Tigress Financial upped their target price on shares of Amazon.com from $290.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Wall Street Zen lowered Amazon.com from a “buy” rating to a “hold” rating in a research note on Monday, May 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $244.09.

Amazon.com Stock Up 2.6%

The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The stock’s 50-day simple moving average is $190.16 and its 200 day simple moving average is $208.75. The firm has a market cap of $2.19 trillion, a P/E ratio of 37.29, a PEG ratio of 1.50 and a beta of 1.30.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analysts’ expectations of $154.96 billion. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. As a group, research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 2,695 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $200.79, for a total value of $541,129.05. Following the transaction, the vice president now owns 119,780 shares in the company, valued at $24,050,626.20. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew S. Garman sold 20,923 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $201.30, for a total transaction of $4,211,799.90. The disclosure for this sale can be found here. Insiders have sold 99,537 shares of company stock valued at $20,018,625 in the last 90 days. 9.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the fourth quarter valued at about $27,000. Accordant Advisory Group Inc lifted its stake in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Amazon.com during the 4th quarter valued at approximately $35,000. Perritt Capital Management Inc lifted its stake in shares of Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in shares of Amazon.com during the 1st quarter valued at approximately $36,000. 72.20% of the stock is owned by hedge funds and other 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.