Amazon.com (NASDAQ:AMZN) PT Raised to $220.00 at Bank of America

Amazon.com (NASDAQ:AMZN) had its price objective lifted by Bank of America from $210.00 to $220.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the e-commerce giant’s stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Amazon.com from $225.00 to $240.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Wedbush reiterated an outperform rating and set a $225.00 target price on shares of Amazon.com in a research report on Wednesday, May 1st. Benchmark reissued a buy rating and issued a $200.00 target price on shares of Amazon.com in a research report on Wednesday, May 1st. Rosenblatt Securities restated a buy rating and set a $220.00 price target on shares of Amazon.com in a research note on Wednesday, May 1st. Finally, Truist Financial boosted their price objective on Amazon.com from $216.00 to $220.00 and gave the company a buy rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $215.86.

Amazon.com Stock Down 2.3 %

Amazon.com stock opened at $193.25 on Wednesday. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 54.13, a P/E/G ratio of 1.42 and a beta of 1.14. The stock’s fifty day simple moving average is $183.87 and its 200-day simple moving average is $173.11. Amazon.com has a twelve month low of $118.35 and a twelve month high of $199.84. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.15. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. As a group, equities analysts expect that Amazon.com will post 4.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total value of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the sale, the chief executive officer now owns 2,025,358 shares in the company, valued at $367,480,955.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The disclosure for this sale can be found here. Insiders have sold 65,338 shares of company stock valued at $11,894,344 in the last 90 days. 10.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AMZN. Cooksen Wealth LLC bought a new stake in Amazon.com during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Amazon.com by 45.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 86 shares during the period. Strid Group LLC bought a new stake in shares of Amazon.com during the fourth quarter worth $43,000. Harbor Investment Advisory LLC lifted its stake in shares of Amazon.com by 0.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after acquiring an additional 1,988 shares during the period. Finally, Clarity Asset Management Inc. acquired a new stake in Amazon.com in the fourth quarter worth about $46,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.