Amazon.com (NASDAQ:AMZN) Trading Down 1.5% on Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 1.5% on Friday 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 $178.00 and last traded at $178.50. Approximately 13,446,794 shares were traded during trading, a decline of 68% from the average daily volume of 41,445,023 shares. The stock had previously closed at $181.22.

A number of other equities analysts have also issued reports on AMZN. Scotiabank increased their price objective on Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Royal Bank of Canada increased their price target on Amazon.com from $255.00 to $265.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Sanford C. Bernstein upped their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Phillip Securities cut shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, February 10th. Finally, Wolfe Research upped their price target on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $258.19.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the sale, the senior vice president now directly owns 49,950 shares in the company, valued at $10,864,125. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is owned by company insiders.

Institutional Trading of Amazon.com

Several institutional investors have recently made changes to their positions in the business. Castlekeep Investment Advisors LLC bought a new position in shares of Amazon.com in the fourth quarter valued at about $25,000. Accordant Advisory Group Inc increased its stake in shares of Amazon.com by 400.0% in the 4th 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. acquired a new position in Amazon.com during the fourth quarter valued at approximately $27,000. Icon Wealth Advisors LLC increased 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 valued at $28,000 after purchasing an additional 25,581 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in Amazon.com in the fourth quarter worth $35,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Trading Up 2.0 %

The company has a market capitalization of $1.96 trillion, a P/E 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 current ratio of 1.06 and a quick ratio of 0.87. The business’s 50-day moving average price is $204.23 and its two-hundred day moving average price is $208.42.

Amazon.com (NASDAQ:AMZN) last posted 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%. As a group, analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.