Amazon.com (NASDAQ:AMZN) Rating Lowered to Equal Weight at Wells Fargo & Company

Wells Fargo & Company lowered shares of Amazon.com (NASDAQ:AMZN) from an overweight rating to an equal weight rating in a research report released on Monday morning, Marketbeat reports. They currently have $183.00 target price on the e-commerce giant’s stock, down from their previous target price of $225.00.

Other research analysts have also issued reports about the stock. Itau BBA Securities lowered shares of Amazon.com from an outperform rating to a market perform rating and set a $186.00 target price for the company. in a report on Friday, August 2nd. Roth Mkm boosted their target price on shares of Amazon.com from $210.00 to $215.00 and gave the stock a buy rating in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $215.00 price target on shares of Amazon.com in a report on Friday, August 2nd. The Goldman Sachs Group reduced their price objective on Amazon.com from $250.00 to $230.00 and set a buy rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an overweight rating and issued a $210.00 price objective on shares of Amazon.com in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amazon.com has a consensus rating of Moderate Buy and an average price target of $222.67.

Amazon.com Trading Up 0.8 %

Amazon.com stock opened at $186.65 on Monday. Amazon.com has a 12-month low of $118.35 and a 12-month high of $201.20. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 52.26, a P/E/G ratio of 1.46 and a beta of 1.14. The firm has a 50 day moving average of $179.11 and a 200 day moving average of $183.05. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. As a group, research analysts predict that Amazon.com will post 4.86 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares of the company’s stock, valued at approximately $371,759,651.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,355 shares of company stock worth $9,877,423 in the last three months. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMZN. Vanguard Group Inc. grew its stake in shares of Amazon.com by 1.9% during the first quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares during the last quarter. Capital Research Global Investors increased its stake in Amazon.com by 8.5% during the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares in the last quarter. Legal & General Group Plc increased its stake in Amazon.com by 1.5% during the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after purchasing an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after buying an additional 289,532 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Amazon.com by 0.5% during the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after buying an additional 295,132 shares during the period. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.