Amazon.com (NASDAQ:AMZN) Stock Price Down 0.7% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 0.7% on Tuesday after DA Davidson lowered their price target on the stock from $280.00 to $230.00. DA Davidson currently has a buy rating on the stock. Amazon.com traded as low as $179.45 and last traded at $180.76. Approximately 12,309,754 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 41,520,023 shares. The stock had previously closed at $182.12.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. dropped their price target on Amazon.com from $270.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Scotiabank upped their target price on Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Wells Fargo & Company reduced their price target on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 25th. Wolfe Research upped their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $265.00 target price (up from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $253.56.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the transaction, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently bought and sold shares of AMZN. Vanguard Group Inc. lifted its stake in shares of Amazon.com by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. State Street Corp grew its stake in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after buying an additional 11,370,309 shares in the last quarter. FMR LLC raised its holdings in shares of Amazon.com by 0.5% during the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant’s stock valued at $72,061,766,000 after buying an additional 1,725,664 shares during the period. Geode Capital Management LLC lifted its position in Amazon.com by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock worth $44,837,256,000 after acquiring an additional 5,015,380 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Amazon.com by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant’s stock worth $40,107,544,000 after acquiring an additional 4,087,933 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Price Performance

The company’s 50-day simple moving average is $203.14 and its 200-day simple moving average is $208.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. On average, equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.