Amazon.com (NASDAQ:AMZN) Trading Down 3% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was down 3% during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $207.00 to $203.00. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com traded as low as $206.16 and last traded at $206.23. Approximately 19,296,908 shares traded hands during trading, a decline of 45% from the average daily volume of 35,073,996 shares. The stock had previously closed at $212.71.

Other equities analysts have also issued research reports about the company. Moffett Nathanson boosted their target price on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Susquehanna boosted their price objective on shares of Amazon.com from $220.00 to $230.00 and gave the company a “positive” rating in a report on Friday, November 1st. Roth Mkm increased their price objective on shares of Amazon.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $265.00 target price (up previously from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Finally, Monness Crespi & Hardt increased their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.65.

Insider Buying and Selling at Amazon.com

In related news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,852 shares of company stock worth $9,324,151. 10.80% of the stock is owned by company insiders.

Institutional Trading of Amazon.com

A number of large investors have recently made changes to their positions in AMZN. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com in the fourth quarter valued at $25,000. Accordant Advisory Group Inc increased its stake in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of Amazon.com during the 4th quarter worth about $27,000. Icon Wealth Advisors LLC grew its holdings in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the period. Finally, LSV Asset Management acquired a new position in shares of Amazon.com in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Trading Down 3.0 %

The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 37.29, a P/E/G ratio of 1.50 and a beta of 1.15. 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 business has a fifty day moving average price of $227.48 and a 200 day moving average price of $204.88.

Amazon.com (NASDAQ:AMZN) last issued its 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 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.