Amazon.com (NASDAQ:AMZN) Given New $306.00 Price Target at Scotiabank

Amazon.com (NASDAQ:AMZN) had its target price upped by investment analysts at Scotiabank from $246.00 to $306.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the e-commerce giant’s stock. Scotiabank’s price target would suggest a potential upside of 30.30% from the company’s previous close.

A number of other equities research analysts have also recently commented on AMZN. HSBC raised their target price on shares of Amazon.com from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Telsey Advisory Group upped their price target on Amazon.com from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. UBS Group upped their target price on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Piper Sandler lifted their price target on shares of Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $249.02.

Amazon.com Stock Down 0.2 %

NASDAQ:AMZN traded down $0.57 during trading hours on Friday, reaching $234.85. 25,702,905 shares of the company traded hands, compared to its average volume of 31,141,408. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. The business’s 50-day moving average price is $219.63 and its two-hundred day moving average price is $197.22. Amazon.com has a 1 year low of $151.61 and a 1 year high of $236.40. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 50.29, a P/E/G ratio of 1.31 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the company earned $0.85 EPS. Amazon.com’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts predict that Amazon.com will post 5.39 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the sale, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. The trade was a 4.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,032,344 shares of company stock valued at $1,253,456,822 in the last quarter. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently modified their holdings of AMZN. Lazari Capital Management Inc. lifted its stake in Amazon.com by 6.8% in the 4th quarter. Lazari Capital Management Inc. now owns 80,233 shares of the e-commerce giant’s stock valued at $17,602,000 after buying an additional 5,104 shares in the last quarter. Fiduciary Planning LLC boosted its stake in shares of Amazon.com by 76.3% in the fourth quarter. Fiduciary Planning LLC now owns 15,674 shares of the e-commerce giant’s stock worth $3,439,000 after acquiring an additional 6,782 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Amazon.com by 3.1% during the fourth quarter. Resonant Capital Advisors LLC now owns 44,799 shares of the e-commerce giant’s stock worth $9,828,000 after buying an additional 1,340 shares in the last quarter. Panoramic Investment Advisors LLC raised its position in shares of Amazon.com by 8.6% in the fourth quarter. Panoramic Investment Advisors LLC now owns 6,835 shares of the e-commerce giant’s stock valued at $1,500,000 after buying an additional 540 shares during the last quarter. Finally, Catalina Capital Group LLC lifted its stake in shares of Amazon.com by 4.5% in the fourth quarter. Catalina Capital Group LLC now owns 44,456 shares of the e-commerce giant’s stock worth $9,753,000 after buying an additional 1,910 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other 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.