Amazon.com (NASDAQ:AMZN) Shares Down 1.7% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price traded down 1.7% during trading on Thursday . The company traded as low as $193.85 and last traded at $195.41. 12,152,029 shares were traded during trading, a decline of 69% from the average session volume of 38,745,496 shares. The stock had previously closed at $198.89.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. DA Davidson raised their target price on Amazon.com from $235.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley lifted their price objective on Amazon.com from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective on Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $265.00 price objective (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Finally, Loop Capital lifted their price objective on Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $260.65.

Amazon.com Trading Up 2.1 %

The company has a market cap of $2.10 trillion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The business has a 50-day simple moving average of $221.65 and a 200-day simple moving average of $207.26.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, topping the consensus estimate 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, analysts predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 19,212 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $217.50, for a total value of $4,178,610.00. Following the completion of the transaction, the senior vice president now owns 49,950 shares in the company, valued at $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the transaction, the chief executive officer now 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. Insiders sold a total of 102,298 shares of company stock worth $22,871,828 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors and hedge funds have recently modified their holdings of AMZN. AMF Tjanstepension AB grew its stake in shares of Amazon.com by 44.3% during the third quarter. AMF Tjanstepension AB now owns 2,641,401 shares of the e-commerce giant’s stock worth $492,172,000 after purchasing an additional 811,425 shares in the last quarter. Swedbank AB lifted its position in Amazon.com by 1.4% in the third quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant’s stock valued at $2,484,864,000 after acquiring an additional 183,610 shares during the last quarter. Opal Wealth Advisors LLC lifted its position in Amazon.com by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 11,297 shares of the e-commerce giant’s stock valued at $2,105,000 after acquiring an additional 561 shares during the last quarter. Jamison Private Wealth Management Inc. lifted its position in Amazon.com by 3.9% in the third quarter. Jamison Private Wealth Management Inc. now owns 60,195 shares of the e-commerce giant’s stock valued at $11,216,000 after acquiring an additional 2,260 shares during the last quarter. Finally, Legacy Financial Group LLC lifted its position in Amazon.com by 2.3% in the third quarter. Legacy Financial Group LLC now owns 15,378 shares of the e-commerce giant’s stock valued at $2,865,000 after acquiring an additional 349 shares during the last quarter. Institutional investors and hedge funds 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.