Amazon.com (NASDAQ:AMZN) Shares Down 1.9% – Here’s What Happened

Shares of Amazon.com, Inc. (NASDAQ:AMZN) fell 1.9% during mid-day trading on Thursday . The stock traded as low as $233.27 and last traded at $232.54. 9,982,501 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 31,205,988 shares. The stock had previously closed at $237.07.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AMZN. Sanford C. Bernstein increased their price target on Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Amazon.com from $225.00 to $232.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Raymond James lifted their price objective on Amazon.com from $230.00 to $260.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Piper Sandler raised their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $250.33.

Amazon.com Stock Up 1.3 %

The stock’s fifty day simple moving average is $223.83 and its two-hundred day simple moving average is $198.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 50.90, a PEG ratio of 1.35 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. During the same period in the prior year, the company earned $0.85 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts predict that Amazon.com, Inc. will post 5.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now owns 518,911 shares in the company, valued at $106,797,072.91. This represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,766 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,000,145.10. Following the completion of the sale, the director now directly owns 94,630 shares of the company’s stock, valued at approximately $19,858,105.50. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,027,340 shares of company stock valued at $1,252,456,773 over the last three months. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several institutional investors have recently modified their holdings of AMZN. Fiera Capital Corp lifted its stake in Amazon.com by 12.5% during the second quarter. Fiera Capital Corp now owns 401,113 shares of the e-commerce giant’s stock valued at $77,515,000 after buying an additional 44,615 shares in the last quarter. GPM Growth Investors Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter valued at approximately $10,269,000. Pursue Wealth Partners LLC boosted its stake in Amazon.com by 4.9% in the 2nd quarter. Pursue Wealth Partners LLC now owns 27,117 shares of the e-commerce giant’s stock worth $5,240,000 after purchasing an additional 1,275 shares during the period. Vance Wealth Inc. raised its stake in Amazon.com by 1.7% during the 2nd quarter. Vance Wealth Inc. now owns 12,943 shares of the e-commerce giant’s stock valued at $2,501,000 after purchasing an additional 216 shares during the period. Finally, Commons Capital LLC boosted its position in shares of Amazon.com by 3.3% in the second quarter. Commons Capital LLC now owns 29,146 shares of the e-commerce giant’s stock worth $5,632,000 after buying an additional 931 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.