Amazon.com (NASDAQ:AMZN) Stock Price Down 0.9% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN) was down 0.9% during mid-day trading on Wednesday after Cantor Fitzgerald lowered their price target on the stock from $270.00 to $230.00. Cantor Fitzgerald currently has an overweight rating on the stock. Amazon.com traded as low as $175.59 and last traded at $178.05. Approximately 10,189,063 shares were traded during trading, a decline of 75% from the average daily volume of 41,492,534 shares. The stock had previously closed at $179.59.

A number of other brokerages also recently issued reports on AMZN. Mizuho cut their price target on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. The Goldman Sachs Group lifted their target price on Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 target price on shares of Amazon.com in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a report on Monday. Finally, Royal Bank of Canada lifted their price objective on shares of Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $252.73.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 2,500 shares of the business’s 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 completion of the sale, the chief executive officer now owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. The trade was a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Several institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Amazon.com during the fourth quarter worth approximately $27,266,582,000. GAMMA Investing LLC boosted its stake in Amazon.com by 21,420.5% during the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock worth $5,754,425,000 after purchasing an additional 30,104,520 shares during the last quarter. Capital World Investors grew its holdings in shares of Amazon.com by 36.8% during the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after buying an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock valued at $180,637,081,000 after buying an additional 17,635,391 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Amazon.com by 17,054.5% in the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock worth $2,652,116,000 after buying an additional 12,018,120 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Down 2.9 %

The stock has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. 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’s 50-day moving average is $200.86 and its two-hundred day moving average is $208.06.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Equities analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.