Amazon.com (NASDAQ:AMZN) PT Raised to $167.00 at Citigroup

Posted by on Aug 6th, 2023

Amazon.com (NASDAQ:AMZN) had its target price increased by investment analysts at Citigroup from $145.00 to $167.00 in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. Citigroup’s price objective points to a potential upside of 19.65% from the stock’s previous close.

A number of other brokerages also recently commented on AMZN. Sanford C. Bernstein lifted their price objective on Amazon.com from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 19th. Barclays lowered their price target on shares of Amazon.com from $150.00 to $140.00 in a research report on Friday, April 28th. UBS Group raised their price objective on shares of Amazon.com from $130.00 to $150.00 in a research report on Thursday, June 8th. StockNews.com assumed coverage on shares of Amazon.com in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Piper Jaffray Companies increased their price target on shares of Amazon.com from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.71.

Amazon.com Stock Up 8.3 %

AMZN stock opened at $139.57 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $128.34 and a two-hundred day moving average of $111.11. Amazon.com has a 12 month low of $81.43 and a 12 month high of $146.57. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 109.90, a PEG ratio of 2.46 and a beta of 1.26.

Insider Activity

In related news, CEO Douglas J. Herrington sold 4,000 shares of Amazon.com stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $133.55, for a total value of $534,200.00. Following the transaction, the chief executive officer now directly owns 560,301 shares in the company, valued at approximately $74,828,198.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Shelley Reynolds sold 3,100 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $115.60, for a total transaction of $358,360.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $13,846,568. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $133.55, for a total value of $534,200.00. Following the transaction, the chief executive officer now directly owns 560,301 shares of the company’s stock, valued at $74,828,198.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,305 shares of company stock valued at $8,606,808. Company insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. USAdvisors Wealth Management LLC boosted its stake in shares of Amazon.com by 12.5% during the 4th quarter. USAdvisors Wealth Management LLC now owns 3,242 shares of the e-commerce giant’s stock worth $272,000 after acquiring an additional 359 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $426,000. Veritas Asset Management LLP boosted its stake in shares of Amazon.com by 19.6% during the 4th quarter. Veritas Asset Management LLP now owns 7,868,621 shares of the e-commerce giant’s stock worth $660,964,000 after acquiring an additional 1,286,797 shares in the last quarter. Mayfair Advisory Group LLC boosted its stake in shares of Amazon.com by 12.0% during the 1st quarter. Mayfair Advisory Group LLC now owns 4,561 shares of the e-commerce giant’s stock worth $468,000 after acquiring an additional 488 shares in the last quarter. Finally, Sarasin & Partners LLP boosted its stake in shares of Amazon.com by 0.7% during the 4th quarter. Sarasin & Partners LLP now owns 2,468,455 shares of the e-commerce giant’s stock worth $207,350,000 after acquiring an additional 17,993 shares in the last quarter. 56.67% of the stock is owned by institutional investors and hedge funds.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions through online and physical stores in North America and internationally. It operates through three segments: North America, International, and Amazon Web Services (AWS). The company's products offered through its stores include merchandise and content purchased for resale; and products offered by third-party sellers.

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