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

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 0.7% during trading on Tuesday after Cantor Fitzgerald lowered their price target on the stock from $270.00 to $230.00. Cantor Fitzgerald currently has an overweight rating on the stock. Amazon.com traded as low as $179.45 and last traded at $180.76. Approximately 12,309,754 shares traded hands 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.

A number of other equities analysts have also weighed in on AMZN. Scotiabank lifted their price objective on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Truist Financial reduced their price objective on shares of Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Rosenblatt Securities lifted their price target on Amazon.com from $236.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. HSBC raised their price objective 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. Finally, Wells Fargo & Company cut their target price on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average target price of $252.73.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were 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 owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 17,635,391 shares during the period. State Street Corp raised its position in Amazon.com by 3.3% during 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 purchasing an additional 11,370,309 shares in the last quarter. FMR LLC lifted its position 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 worth $72,061,766,000 after buying an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Amazon.com by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant’s stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Amazon.com by 2.3% during the fourth 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 buying an additional 4,087,933 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Trading Down 2.9 %

The business has a fifty day simple moving average of $200.86 and a 200-day simple moving average of $208.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market cap of $1.85 trillion, a price-to-earnings ratio of 31.52, a PEG ratio of 1.50 and a beta of 1.39.

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