Amazon.com (NASDAQ:AMZN) Given New $220.00 Price Target at The Goldman Sachs Group

Amazon.com (NASDAQ:AMZN) had its price target cut by The Goldman Sachs Group from $255.00 to $220.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

Other equities analysts have also issued reports about the stock. Cantor Fitzgerald decreased their price objective on shares of Amazon.com from $270.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Truist Financial lowered their price target on Amazon.com from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a report on Monday, April 14th. Wedbush restated an “outperform” rating and set a $280.00 target price on shares of Amazon.com in a research note on Friday, February 7th. Finally, Westpark Capital initiated coverage on shares of Amazon.com in a research note on Tuesday, April 1st. They issued a “buy” rating and a $280.00 price target for the company. Two analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $248.96.

Amazon.com Price Performance

Shares of AMZN stock opened at $173.18 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market cap of $1.84 trillion, a P/E ratio of 31.32, a P/E/G ratio of 1.50 and a beta of 1.39. The business’s 50 day moving average price is $196.07 and its 200-day moving average price is $207.85. Amazon.com has a fifty-two week low of $151.61 and a fifty-two week high of $242.52.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts anticipate that Amazon.com will post 6.31 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction 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 sale, the vice president now owns 119,780 shares in the company, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the transaction, the chief executive officer now owns 509,474 shares of the company’s stock, valued at $95,776,017.26. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,798 shares of company stock worth $23,341,803. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several hedge funds have recently made changes to their positions in AMZN. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com during the 4th quarter valued at $25,000. Accordant Advisory Group Inc increased its position in Amazon.com by 400.0% during the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com in the fourth quarter valued at $27,000. Icon Wealth Advisors LLC lifted its stake in Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the last quarter. Finally, LSV Asset Management bought a new stake in shares of Amazon.com during the 4th quarter worth approximately $35,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.