Amazon.com (NASDAQ:AMZN) Trading Up 3.4% – Here’s What Happened

by · The Cerbat Gem

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price rose 3.4% during mid-day trading on Tuesday . The company traded as high as $243.18 and last traded at $240.9460. Approximately 53,255,489 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 51,433,211 shares. The stock had previously closed at $233.06.

Key Headlines Impacting Amazon.com

Here are the key news stories impacting Amazon.com this week:

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Amazon.com from $278.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating on shares of Amazon.com in a research report on Wednesday, December 3rd. Citigroup reissued an “overweight” rating on shares of Amazon.com in a research report on Wednesday, November 26th. Stifel Nicolaus raised their price target on shares of Amazon.com from $269.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Sanford C. Bernstein set a $300.00 price target on shares of Amazon.com and gave the stock an “outperform” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, fifty-six have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $296.21.

Get Our Latest Report on Amazon.com

Amazon.com Stock Performance

The company’s fifty day moving average is $232.23 and its 200 day moving average is $227.01. The company has a market capitalization of $2.58 trillion, a P/E ratio of 34.03, a P/E/G ratio of 1.42 and a beta of 1.37. The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $180.17 billion for the quarter, compared to the consensus estimate of $177.53 billion. Amazon.com had a return on equity of 23.62% and a net margin of 11.06%.The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 earnings per share. As a group, equities analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $226.61, for a total value of $280,316.57. Following the completion of the transaction, the director directly owned 26,148 shares in the company, valued at approximately $5,925,398.28. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith Brian Alexander sold 900 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $233.00, for a total value of $209,700.00. Following the transaction, the director directly owned 7,170 shares in the company, valued at approximately $1,670,610. This represents a 11.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 79,734 shares of company stock worth $18,534,017. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Fairway Wealth LLC boosted its position in Amazon.com by 113.2% during the third quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant’s stock valued at $25,000 after buying an additional 60 shares during the period. Carderock Capital Management Inc. bought a new stake in shares of Amazon.com in the 2nd quarter valued at about $27,000. Sellwood Investment Partners LLC bought a new stake in shares of Amazon.com in the 3rd quarter valued at about $27,000. Maryland Capital Advisors Inc. boosted its holdings in Amazon.com by 81.9% during the 2nd quarter. Maryland Capital Advisors Inc. now owns 211 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 95 shares during the period. Finally, Ryan Investment Management Inc. bought a new position in Amazon.com during the 2nd quarter worth approximately $48,000. 72.20% of the stock is currently owned by institutional investors.

About Amazon.com

(Get Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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