Amazon.com (NASDAQ:AMZN) Price Target Cut to $220.00 by Analysts at JPMorgan Chase & Co.

Amazon.com (NASDAQ:AMZN) had its price objective reduced by JPMorgan Chase & Co. from $270.00 to $220.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the e-commerce giant’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.12% from the stock’s current price.

AMZN has been the topic of a number of other research reports. Loop Capital increased their target price on Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Piper Sandler reiterated an “overweight” rating and set a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Sanford C. Bernstein upped their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group lifted their price target on shares of Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $250.00 price objective 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-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.04.

Amazon.com Price Performance

Shares of Amazon.com stock opened at $191.10 on Tuesday. The stock has a 50 day moving average price of $206.49 and a 200-day moving average price of $208.56. Amazon.com has a one year low of $151.61 and a one year high of $242.52. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating 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%. Equities analysts expect that Amazon.com will post 6.31 EPS for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total value of $1,256,648.44. Following the completion of the sale, the chief executive officer now owns 505,318 shares in the company, valued at $115,434,843.92. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,798 shares of company stock worth $23,341,803 over the last three months. 10.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Amazon.com during the fourth quarter worth $27,266,582,000. GAMMA Investing LLC boosted its stake in shares of Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after acquiring an additional 30,104,520 shares in the last quarter. Capital World Investors grew its position in shares of Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after acquiring an additional 17,681,004 shares during the period. Vanguard Group Inc. increased its stake in shares of Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Amazon.com by 17,054.5% in the 4th quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after purchasing an additional 12,018,120 shares during the period. 72.20% of the stock is owned by institutional investors and hedge funds.

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.