Amazon.com (NASDAQ:AMZN) Stock Price Down 3.7% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN) traded down 3.7% during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $265.00 to $230.00. Truist Financial currently has a buy rating on the stock. Amazon.com traded as low as $183.40 and last traded at $184.01. 15,702,073 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 41,329,499 shares. The stock had previously closed at $191.10.

A number of other equities research analysts have also weighed in on the company. Barclays lifted their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and set a $265.00 target price (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Stifel Nicolaus raised their price objective on Amazon.com from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Wolfe Research increased their target price on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Maxim Group boosted their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $258.19.

Insider Buying and Selling

In related news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was 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 represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Shelley Reynolds sold 8,833 shares of the firm’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 completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $26,647,456.60. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,798 shares of company stock valued at $23,341,803 over the last quarter. 10.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Amazon.com

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

Amazon.com Stock Up 2.0 %

The company has a market cap of $1.96 trillion, a PE ratio of 33.43, a PEG ratio of 1.50 and a beta of 1.39. 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 fifty day simple moving average of $204.23 and a 200 day simple moving average of $208.42.

Amazon.com (NASDAQ:AMZN) last issued its 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 return on equity of 24.25% and a net margin of 9.29%. Equities research analysts predict that Amazon.com, Inc. will post 6.31 EPS 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.