Amazon.com (AMZN) Sets New 52-Week High Following Analyst Upgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) reached a new 52-week high during trading on Monday after Citigroup raised their price target on the stock from $1,400.00 to $1,600.00. Citigroup currently has a buy rating on the stock. Amazon.com traded as high as $1,423.33 and last traded at $1,423.80, with a volume of 3358171 shares changing hands. The stock had previously closed at $1,402.05.

Other equities analysts also recently issued reports about the company. Vetr upgraded Amazon.com from a “sell” rating to a “hold” rating and set a $1,155.74 target price on the stock in a research report on Wednesday, November 29th. KeyCorp reiterated a “hold” rating on shares of Amazon.com in a research report on Monday. SunTrust Banks restated a “buy” rating and issued a $1,190.00 price objective on shares of Amazon.com in a report on Monday, October 2nd. Wells Fargo & Co restated a “buy” rating on shares of Amazon.com in a report on Monday, December 4th. Finally, Barclays restated an “overweight” rating and issued a $1,210.00 price objective (up from $1,150.00) on shares of Amazon.com in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,297.99.

In other Amazon.com news, VP Shelley Reynolds sold 544 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $1,126.27, for a total transaction of $612,690.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Zapolsky sold 2,334 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $1,125.39, for a total value of $2,626,660.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 402,338 shares of company stock valued at $444,391,701. 17.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Leavell Investment Management Inc. boosted its position in Amazon.com by 0.3% during the 2nd quarter. Leavell Investment Management Inc. now owns 394 shares of the e-commerce giant’s stock valued at $381,000 after purchasing an additional 1 shares during the period. Probity Advisors Inc. boosted its position in Amazon.com by 0.6% during the 2nd quarter. Probity Advisors Inc. now owns 320 shares of the e-commerce giant’s stock valued at $310,000 after purchasing an additional 2 shares during the period. Venturi Wealth Management LLC boosted its position in Amazon.com by 0.3% during the 2nd quarter. Venturi Wealth Management LLC now owns 632 shares of the e-commerce giant’s stock valued at $612,000 after purchasing an additional 2 shares during the period. Regis Management CO LLC boosted its position in Amazon.com by 0.9% during the 2nd quarter. Regis Management CO LLC now owns 231 shares of the e-commerce giant’s stock valued at $224,000 after purchasing an additional 2 shares during the period. Finally, Hall Capital Management Co. Inc. boosted its position in Amazon.com by 0.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 403 shares of the e-commerce giant’s stock valued at $390,000 after purchasing an additional 3 shares during the period. Institutional investors own 59.80% of the company’s stock.

The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.74 and a current ratio of 1.03. The company has a market cap of $688,240.00, a P/E ratio of 360.67, a price-to-earnings-growth ratio of 8.09 and a beta of 1.46.

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Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers.

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