Amazon.com (NASDAQ:AMZN) Shares Down 1.5% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares traded down 1.5% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $265.00 to $230.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as low as $178.00 and last traded at $178.50. 13,446,794 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 41,445,023 shares. The stock had previously closed at $181.22.

Several other equities research analysts also recently issued reports on AMZN. JPMorgan Chase & Co. decreased their price target on Amazon.com from $270.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. DA Davidson lifted their price target on shares of Amazon.com from $235.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group upped their price objective on shares of Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, UBS Group lifted their price target on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, forty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $258.19.

Insiders Place Their Bets

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,620 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $10,933,860. The trade was a 22.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,798 shares of company stock worth $23,341,803. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently made changes to their positions in the company. Cable Hill Partners LLC grew its holdings in shares of Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after purchasing an additional 44 shares during the last quarter. Quattro Financial Advisors LLC grew its position in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after buying an additional 45 shares during the last quarter. Northern Capital Management Inc. increased its position in shares of Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management raised its stake in Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after buying an additional 47 shares during the last quarter. Finally, MBM Wealth Consultants LLC increased its holdings in shares of Amazon.com by 0.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock valued at $1,889,000 after acquiring an additional 48 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Price Performance

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 stock’s 50 day simple moving average is $205.37 and its 200-day simple moving average is $208.47. The firm has a market cap of $1.89 trillion, a price-to-earnings ratio of 32.28, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating 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%. Equities research analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.