Amazon.com (NASDAQ:AMZN) Trading Down 0.7% on Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares fell 0.7% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $272.00 to $253.00. UBS Group currently has a buy rating on the stock. Amazon.com traded as low as $187.54 and last traded at $187.71. 9,715,612 shares were traded during mid-day trading, a decline of 77% from the average session volume of 41,787,848 shares. The stock had previously closed at $188.99.

Several other brokerages also recently commented on AMZN. Cantor Fitzgerald lowered their price objective on Amazon.com from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Loop Capital lifted their price target on Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a report on Friday, February 7th. Raymond James restated an “outperform” rating and set a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research report on Monday, April 21st. Finally, Piper Sandler restated an “overweight” rating and set a $265.00 price target (up from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $246.50.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This trade represents a 0.49 % decrease in their position. The sale 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 Amazon.com stock in a transaction that occurred on 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 transaction, the chief financial officer now 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 valued at $23,341,803 in the last ninety days. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds have recently bought and sold shares of AMZN. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at approximately $27,000. Accordant Advisory Group Inc boosted its position in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. LSV Asset Management purchased a new stake in Amazon.com in the fourth quarter valued at approximately $35,000. Perritt Capital Management Inc boosted its position in shares of Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after buying an additional 80 shares during the period. Finally, Cooksen Wealth LLC acquired a new stake in shares of Amazon.com in the first quarter valued at $36,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Down 0.2 %

The company has a market capitalization of $1.99 trillion, a PE ratio of 33.89, a PEG ratio of 1.50 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $192.03 and a 200 day moving average of $207.90.

Amazon.com (NASDAQ:AMZN) last announced 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 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 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.