Amazon.com (NASDAQ:AMZN) Shares Down 0.3% After Analyst Downgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) traded down 0.3% during trading on Thursday 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 $172.60 and last traded at $173.79. 12,873,552 shares traded hands during trading, a decline of 69% from the average session volume of 41,579,330 shares. The stock had previously closed at $174.33.

Several other analysts also recently weighed in on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $275.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $265.00 target price (up previously from $225.00) on shares of Amazon.com in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft reduced their price target on Amazon.com from $287.00 to $206.00 and set a “buy” rating on the stock in a research report on Monday. Tigress Financial lifted their price target on Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, Benchmark increased their price objective on Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, forty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.73.

Insider Buying and Selling at Amazon.com

In related news, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This represents a 6.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on 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 sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com in the fourth quarter worth approximately $25,000. Accordant Advisory Group Inc boosted its position in Amazon.com by 400.0% in the fourth 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 last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of Amazon.com during the 4th quarter valued at about $27,000. Icon Wealth Advisors LLC increased its position in shares of Amazon.com by 20.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after purchasing an additional 25,581 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of Amazon.com in the 4th quarter worth approximately $35,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Down 1.0 %

The company’s 50 day moving average price is $199.65 and its two-hundred day moving average price is $207.97. 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 stock has a market cap of $1.83 trillion, a P/E ratio of 31.19, a PEG ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last issued its quarterly 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 analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share 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.