Amazon.com (NASDAQ:AMZN) Stock Price Down 0.5% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN) shares fell 0.5% on Monday . The stock traded as low as $186.40 and last traded at $187.97. 7,230,064 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 41,161,836 shares. The stock had previously closed at $188.99.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMZN. Truist Financial upped their price target on Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group reduced their price objective on Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Barclays increased their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Sanford C. Bernstein lifted their price target on Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Finally, Maxim Group increased their target price on shares of Amazon.com from $238.00 to $251.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.78.

Amazon.com Price Performance

The stock has a fifty day moving average of $181.98 and a 200-day moving average of $183.43. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 52.88, a P/E/G ratio of 1.38 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. On average, equities research analysts predict that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the sale, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at approximately $95,335,255.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the transaction, the chief executive officer now directly owns 503,753 shares of the company’s stock, valued at $95,335,255.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $8,820,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,355 shares of company stock worth $9,877,423 in the last quarter. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. Phillips Wealth Planners LLC raised its holdings in Amazon.com by 9.2% during the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock worth $487,000 after purchasing an additional 224 shares during the last quarter. Stonekeep Investments LLC acquired a new stake in Amazon.com in the 2nd quarter valued at about $2,588,000. Concord Investment Counsel Inc. acquired a new position in Amazon.com during the first quarter worth about $20,790,000. O Shaughnessy Asset Management LLC grew its position in shares of Amazon.com by 26.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 644,319 shares of the e-commerce giant’s stock valued at $116,222,000 after purchasing an additional 133,471 shares during the last quarter. Finally, Rockport Wealth LLC lifted its position in shares of Amazon.com by 2,240.6% in the second quarter. Rockport Wealth LLC now owns 76,749 shares of the e-commerce giant’s stock valued at $14,832,000 after acquiring an additional 73,470 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.