Amazon.com (NASDAQ:AMZN) Shares Down 2%

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 2% during trading on Wednesday . The stock traded as low as $175.73 and last traded at $175.96. Approximately 9,054,651 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 42,204,445 shares. The stock had previously closed at $179.55.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Cantor Fitzgerald initiated coverage on Amazon.com in a report on Thursday, September 5th. They issued an “overweight” rating and a $230.00 price objective on the stock. Robert W. Baird increased their price target on shares of Amazon.com from $210.00 to $213.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Roth Mkm boosted their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $215.00 target price on shares of Amazon.com in a report on Friday, August 2nd. Finally, Morgan Stanley cut their price target on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $222.49.

Amazon.com Stock Performance

The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 49.29, a PEG ratio of 1.29 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average is $180.25 and its 200 day moving average is $181.42.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Insider Activity at Amazon.com

In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at approximately $186,450,290,169.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $200.07, for a total value of $617,239,158.12. Following the completion of the transaction, the insider now owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The disclosure for this sale can be found here. Insiders have sold a total of 6,104,317 shares of company stock valued at $1,220,621,322 over the last quarter. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds have recently added to or reduced their stakes in AMZN. Cooksen Wealth LLC purchased a new position in Amazon.com during the fourth quarter worth approximately $30,000. PayPay Securities Corp raised its holdings in shares of Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares during the period. Clarity Asset Management Inc. acquired a new position in shares of Amazon.com in the 4th quarter valued at about $46,000. Christopher J. Hasenberg Inc grew its holdings in shares of Amazon.com by 650.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. Finally, Steph & Co. acquired a new position in Amazon.com during the first quarter valued at approximately $65,000. 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.