Amazon.com (NASDAQ:AMZN) Stock Price Down 0.9% on Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price was down 0.9% during trading on Wednesday 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 $175.59 and last traded at $178.05. Approximately 10,189,063 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 41,492,534 shares. The stock had previously closed at $179.59.

AMZN has been the topic of several other reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Amazon.com in a research report on Friday, February 7th. Tigress Financial boosted their target price on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Raymond James increased their price target on shares of Amazon.com from $260.00 to $275.00 in a report on Monday, February 10th. Royal Bank of Canada boosted their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Morgan Stanley reduced their target price on shares of Amazon.com from $280.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.73.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 5,501 shares of the firm’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 transaction, the chief executive officer now owns 505,318 shares in the company, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock worth $23,341,803 in the last quarter. Insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

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

Amazon.com Price Performance

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 company has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company has a 50-day moving average price of $199.65 and a 200-day moving average price of $207.97.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) 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%. On average, equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

About Amazon.com

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.