Amazon.com (NASDAQ:AMZN) Stock Price Down 7.7% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price traded down 7.7% during trading on Friday after Oppenheimer lowered their price target on the stock from $250.00 to $245.00. Oppenheimer currently has an outperform rating on the stock. Amazon.com traded as low as $215.25 and last traded at $216.08. 48,761,209 shares were traded during mid-day trading, an increase of 10% from the average session volume of 44,310,316 shares. The stock had previously closed at $234.11.

AMZN has been the subject of several other research reports. Canaccord Genuity Group restated a “buy” rating and issued a $280.00 price target on shares of Amazon.com in a report on Friday. Wall Street Zen downgraded shares of Amazon.com from a “buy” rating to a “hold” rating in a report on Monday, May 5th. Roth Capital set a $250.00 price target on shares of Amazon.com and gave the stock a “buy” rating in a research report on Tuesday, July 8th. BNP Paribas Exane upgraded shares of Amazon.com from a “neutral” rating to an “outperform” rating and set a $254.00 price target on the stock in a report on Friday, June 27th. Finally, HSBC boosted their price objective on shares of Amazon.com from $240.00 to $256.00 in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a hold rating, forty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $260.85.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $224.81, for a total value of $960,666,409.97. Following the completion of the sale, the insider directly owned 897,722,088 shares of the company’s stock, valued at $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have sold 25,099,537 shares of company stock worth $5,674,394,548. Corporate insiders own 9.70% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC raised its position in shares of Amazon.com by 0.9% during the 1st quarter. Western Wealth Management LLC now owns 140,122 shares of the e-commerce giant’s stock worth $26,660,000 after purchasing an additional 1,297 shares during the period. Momentous Wealth Management Inc. acquired a new position in shares of Amazon.com during the fourth quarter worth approximately $749,000. Barnes Dennig Private Wealth Management LLC bought a new position in Amazon.com in the 1st quarter worth approximately $514,000. Segall Bryant & Hamill LLC increased its position in Amazon.com by 14.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 317,114 shares of the e-commerce giant’s stock valued at $69,572,000 after acquiring an additional 39,696 shares during the period. Finally, Bearing Point Capital LLC bought a new stake in Amazon.com during the 4th quarter valued at $12,014,000. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Down 8.3%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.84 and a current ratio of 1.05. The firm has a 50 day simple moving average of $218.20 and a two-hundred day simple moving average of $209.21. The stock has a market cap of $2.28 trillion, a P/E ratio of 32.74, a P/E/G ratio of 1.74 and a beta of 1.31.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.37. The business had revenue of $167.70 billion for the quarter, compared to analysts’ expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 24.90%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. Equities research analysts predict that Amazon.com, Inc. will post 6.31 earnings per share 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.