Amazon.com (NASDAQ:AMZN) PT Raised to $216.00 at Truist Financial

Amazon.com (NASDAQ:AMZN) had its target price hoisted by investment analysts at Truist Financial from $195.00 to $216.00 in a report issued on Wednesday, Marketbeat reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. Truist Financial’s target price suggests a potential upside of 19.17% from the company’s previous close.

Several other brokerages have also commented on AMZN. JMP Securities upped their target price on Amazon.com from $175.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Wedbush restated an “outperform” rating and set a $220.00 target price on shares of Amazon.com in a research report on Wednesday, April 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $200.00 price target on shares of Amazon.com in a report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft increased their price target on Amazon.com from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Needham & Company LLC increased their price target on Amazon.com from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. One analyst has rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $202.80.

Amazon.com Trading Down 1.1 %

Shares of NASDAQ AMZN traded down $2.06 during trading on Wednesday, reaching $181.26. The company had a trading volume of 23,742,287 shares, compared to its average volume of 42,869,969. The company’s fifty day moving average price is $176.88 and its 200-day moving average price is $156.19. Amazon.com has a 12 month low of $101.15 and a 12 month high of $189.77. The stock has a market cap of $1.89 trillion, a P/E ratio of 62.67, a PEG ratio of 1.60 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.05 and a debt-to-equity ratio of 0.29.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 1st. The e-commerce giant reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.19. Amazon.com had a return on equity of 16.61% and a net margin of 5.29%. The firm had revenue of $169.96 billion for the quarter, compared to analyst estimates of $165.96 billion. During the same quarter in the previous year, the company posted $0.21 EPS. The business’s revenue was up 13.9% on a year-over-year basis. As a group, research analysts expect that Amazon.com will post 4.08 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 5,998,849 shares of Amazon.com stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the completion of the sale, the insider now owns 982,252,968 shares of the company’s stock, valued at $167,140,165,034.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Amazon.com news, insider Jeffrey P. Bezos sold 5,998,849 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $170.16, for a total transaction of $1,020,764,145.84. Following the sale, the insider now owns 982,252,968 shares in the company, valued at $167,140,165,034.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam Selipsky sold 500 shares of the firm’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $152.78, for a total value of $76,390.00. Following the sale, the chief executive officer now owns 117,560 shares in the company, valued at approximately $17,960,816.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,214,010 shares of company stock valued at $5,505,874,846. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of large investors have recently added to or reduced their stakes in AMZN. Bridgefront Capital LLC purchased a new position in Amazon.com during the 1st quarter valued at about $228,000. Krane Funds Advisors LLC boosted its position in Amazon.com by 239.1% during the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after acquiring an additional 55 shares in the last quarter. Range Financial Group LLC bought a new stake in Amazon.com during the 1st quarter valued at approximately $258,000. My Personal CFO LLC bought a new stake in Amazon.com during the 1st quarter valued at approximately $261,000. Finally, Worth Asset Management LLC bought a new stake in Amazon.com during the 1st quarter valued at approximately $191,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.