Amazon.com (NASDAQ:AMZN) Stock Price Down 0.7% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price was down 0.7% on Tuesday after DA Davidson lowered their price target on the stock from $280.00 to $230.00. DA Davidson currently has a buy rating on the stock. Amazon.com traded as low as $179.45 and last traded at $180.76. Approximately 12,309,754 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 41,520,023 shares. The stock had previously closed at $182.12.

Several other equities research analysts have also issued reports on the company. UBS Group raised their target price on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research note on Monday. Jefferies Financial Group reduced their target price on shares of Amazon.com from $275.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Barclays lifted their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Citigroup cut their price target on Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a report on Monday. Two research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $253.56.

Insider Transactions at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the completion of the sale, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Hedge funds and other institutional investors have recently modified their holdings of the business. Swedbank AB lifted its position in Amazon.com by 1.4% in the 3rd quarter. Swedbank AB now owns 13,335,826 shares of the e-commerce giant’s stock worth $2,484,864,000 after buying an additional 183,610 shares in the last quarter. Sassicaia Capital Advisers LLC bought a new stake in Amazon.com during the third quarter valued at about $279,000. Howard Capital Management Group LLC grew its stake in shares of Amazon.com by 0.3% in the third quarter. Howard Capital Management Group LLC now owns 356,539 shares of the e-commerce giant’s stock worth $66,434,000 after acquiring an additional 897 shares during the last quarter. Meridian Management Co. lifted its stake in shares of Amazon.com by 27.6% in the third quarter. Meridian Management Co. now owns 33,460 shares of the e-commerce giant’s stock valued at $6,235,000 after buying an additional 7,246 shares during the period. Finally, Pettinga Financial Advisors LLC grew its holdings in shares of Amazon.com by 4.3% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 5,512 shares of the e-commerce giant’s stock worth $1,027,000 after purchasing an additional 225 shares in the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

Amazon.com Stock Performance

The stock has a fifty day moving average price of $201.96 and a 200-day moving average price of $208.30. 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 firm has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 32.48, a PEG ratio of 1.50 and a beta of 1.39.

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