Amazon.com (NASDAQ:AMZN) Given New $230.00 Price Target at JPMorgan Chase & Co.

Amazon.com (NASDAQ:AMZN) had its price objective decreased by JPMorgan Chase & Co. from $240.00 to $230.00 in a research note published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the e-commerce giant’s stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Amazon.com from $234.00 to $239.00 and gave the stock an overweight rating in a research report on Friday, June 28th. BMO Capital Markets lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Needham & Company LLC lifted their price target on shares of Amazon.com from $205.00 to $210.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Tigress Financial lifted their price target on shares of Amazon.com from $210.00 to $245.00 and gave the stock a buy rating in a research report on Thursday, May 30th. Finally, Truist Financial lifted their price target on shares of Amazon.com from $220.00 to $230.00 and gave the stock a buy rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Buy and an average price target of $222.58.

Amazon.com Price Performance

NASDAQ AMZN opened at $161.02 on Friday. Amazon.com has a 12 month low of $118.35 and a 12 month high of $201.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The firm has a market capitalization of $1.68 trillion, a PE ratio of 44.45, a P/E/G ratio of 1.32 and a beta of 1.15. The company’s 50 day simple moving average is $187.12 and its 200 day simple moving average is $179.92.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of Amazon.com stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Amazon.com news, insider Jeffrey P. Bezos sold 3,085,116 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $367,480,955.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,111,990 shares of company stock valued at $1,222,095,188. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Hedge funds have recently bought and sold shares of the company. Garrison Point Advisors LLC raised its position in shares of Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after buying an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. raised its position in shares of Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock valued at $594,000 after buying an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC raised its position in shares of Amazon.com by 0.7% during the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after buying an additional 56 shares during the last quarter. Stordahl Capital Management Inc. raised its position in shares of Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its position in shares of Amazon.com by 1.9% during the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after buying an additional 57 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Company Profile

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.