Amazon.com (NASDAQ:AMZN) Stock Price Up 0.6% – Here’s What Happened

26 Oct 2024, 07:48 by Scott Moore · The Cerbat Gem

Amazon.com, Inc. (NASDAQ:AMZN)’s share price shot up 0.6% during mid-day trading on Thursday . The stock traded as high as $186.44 and last traded at $185.84. 6,724,480 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 40,975,969 shares. The stock had previously closed at $184.71.

Analyst Upgrades and Downgrades

AMZN has been the topic of a number of research reports. Roth Mkm raised their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group reduced their price objective on Amazon.com from $235.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Wolfe Research assumed coverage on Amazon.com in a research report on Tuesday, July 16th. They set an “outperform” rating and a $250.00 target price for the company. Maxim Group increased their price target on Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Rosenblatt Securities raised their price target on Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $236.78.

Get Our Latest Report on Amazon.com

Amazon.com Stock Up 0.8 %

The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 52.61, a P/E/G ratio of 1.38 and a beta of 1.14. The business’s 50-day moving average is $183.50 and its 200-day moving average is $183.57.

Amazon.com (NASDAQ:AMZN – Get Free Report) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. As a group, equities analysts predict that Amazon.com, Inc. will post 4.85 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian T. Olsavsky sold 14,600 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,355 shares of company stock valued at $9,877,423. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Large investors have recently modified their holdings of the business. S.A. Mason LLC boosted its holdings in shares of Amazon.com by 18.1% during the 3rd quarter. S.A. Mason LLC now owns 4,087 shares of the e-commerce giant’s stock worth $762,000 after purchasing an additional 625 shares during the last quarter. 1620 Investment Advisors Inc. lifted its position in Amazon.com by 3.1% during the third quarter. 1620 Investment Advisors Inc. now owns 3,373 shares of the e-commerce giant’s stock worth $628,000 after buying an additional 100 shares in the last quarter. Solidarity Wealth LLC boosted its stake in Amazon.com by 18.1% during the third quarter. Solidarity Wealth LLC now owns 129,910 shares of the e-commerce giant’s stock worth $24,206,000 after buying an additional 19,877 shares during the last quarter. Cornerstone Wealth Group LLC grew its holdings in Amazon.com by 1.9% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 78,239 shares of the e-commerce giant’s stock valued at $14,578,000 after buying an additional 1,431 shares in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of Amazon.com by 16.0% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 99,475 shares of the e-commerce giant’s stock worth $18,535,000 after acquiring an additional 13,720 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

Amazon.com Company Profile

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