Amazon.com (NASDAQ:AMZN) Stock Price Down 1.1% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 1.1% on Tuesday after Wells Fargo & Company lowered their price target on the stock from $232.00 to $225.00. Wells Fargo & Company currently has an overweight rating on the stock. Amazon.com traded as low as $172.34 and last traded at $173.55. Approximately 8,334,778 shares changed hands during trading, a decline of 80% from the average daily volume of 42,683,359 shares. The stock had previously closed at $175.50.

AMZN has been the topic of several other reports. Bank of America lowered their price objective on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Mizuho boosted their price target on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Evercore ISI raised their price objective on Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JMP Securities reaffirmed a “market outperform” rating and set a $225.00 target price on shares of Amazon.com in a research note on Wednesday, July 31st. Finally, Roth Mkm increased their target price on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Amazon.com currently has an average rating of “Buy” and an average price target of $221.36.

Insiders Place Their Bets

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.00, for a total transaction of $2,628,000.00. Following the completion of the transaction, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,820,000. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now directly owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The disclosure for this sale can be found here. Insiders have sold 6,107,817 shares of company stock worth $1,221,241,837 over the last three months. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares in the last quarter. Norges Bank purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $17,700,551,000. Capital Research Global Investors boosted its holdings in shares of Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after buying an additional 6,810,145 shares in the last quarter. Legal & General Group Plc grew its position in shares of Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after buying an additional 1,042,177 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Trading Down 1.4 %

The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.80 trillion, a PE ratio of 48.49, a PEG ratio of 1.32 and a beta of 1.15. The business’s 50-day moving average is $183.61 and its two-hundred day moving average is $181.09.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $147.98 billion during the quarter, compared to the consensus estimate of $148.63 billion. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. On average, analysts anticipate that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal 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.