Amazon.com (NASDAQ:AMZN) Stock Price Down 0.7% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN) shares were down 0.7% during mid-day trading on Wednesday . The stock traded as low as $205.40 and last traded at $206.40. Approximately 8,925,855 shares traded hands during trading, a decline of 78% from the average daily volume of 41,403,867 shares. The stock had previously closed at $207.86.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AMZN shares. Robert W. Baird boosted their target price on Amazon.com from $213.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wedbush boosted their target price on Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America boosted their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $236.00 price target (up from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Finally, Maxim Group upped their price target on Amazon.com from $251.00 to $260.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Amazon.com has an average rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Price Performance

The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 44.33, a price-to-earnings-growth ratio of 1.35 and a beta of 1.14. The stock’s 50 day moving average price is $193.75 and its two-hundred day moving average price is $186.52. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.85 earnings per share. Equities research analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares in the company, valued at $12,171,900. This represents a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after acquiring an additional 14,724,687 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 worth $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares during the last quarter. Capital Research Global Investors boosted its holdings in Amazon.com by 8.5% in the first 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 acquiring an additional 6,810,145 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Amazon.com by 1.5% in the second 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 acquiring an additional 1,042,177 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.