Oppenheimer Lowers Amazon.com (NASDAQ:AMZN) Price Target to $220.00

Amazon.com (NASDAQ:AMZN) had its price target lowered by Oppenheimer from $260.00 to $220.00 in a research report sent to investors on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the e-commerce giant’s stock.

Several other analysts also recently issued reports on the stock. Rosenblatt Securities upped their price target on shares of Amazon.com from $236.00 to $287.00 and gave the company a “buy” rating in a report on Friday, February 7th. Westpark Capital started coverage on Amazon.com in a research note on Tuesday, April 1st. They issued a “buy” rating and a $280.00 target price on the stock. Maxim Group raised their price target on Amazon.com from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. HSBC upped their price objective on Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Wedbush reiterated an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $246.73.

Amazon.com Stock Performance

AMZN opened at $187.70 on Monday. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. The stock has a market cap of $1.99 trillion, a P/E ratio of 33.94, a P/E/G ratio of 1.50 and a beta of 1.39. The stock’s 50 day simple moving average is $192.74 and its 200 day simple moving average is $208.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. As a group, equities analysts anticipate that Amazon.com will post 6.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 14,620 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at approximately $10,933,860. This represents a 22.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock worth $23,341,803 in the last three months. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amazon.com

Hedge funds have recently added to or reduced their stakes in the business. Cable Hill Partners LLC raised its stake in Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after acquiring an additional 44 shares during the period. Quattro Financial Advisors LLC grew its holdings in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares during the last quarter. Northern Capital Management Inc. raised its position in shares of Amazon.com by 0.6% during the 4th 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 during the period. White Wing Wealth Management boosted its position in Amazon.com by 2.4% during the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock valued at $433,000 after purchasing an additional 47 shares during the period. Finally, MBM Wealth Consultants LLC grew its stake in Amazon.com by 0.6% during the 4th quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock worth $1,889,000 after buying an additional 48 shares during the last quarter. 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.