Amazon.com (NASDAQ:AMZN) Downgraded to “Moderate Buy” Rating by Phillip Securities

Amazon.com (NASDAQ:AMZN) was downgraded by equities researchers at Phillip Securities from a “strong-buy” rating to a “moderate buy” rating in a report released on Monday,Zacks.com reports.

Several other research firms have also recently commented on AMZN. Bank of America raised their price target on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Truist Financial boosted their target price on Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Finally, Canaccord Genuity Group lifted their price objective on Amazon.com from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $260.74.

Amazon.com Stock Performance

Shares of AMZN stock opened at $228.93 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. Amazon.com has a 12 month low of $151.61 and a 12 month high of $242.52. The company’s fifty day moving average price is $227.98 and its two-hundred day moving average price is $201.78. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 41.40, a P/E/G ratio of 1.36 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data 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 net margin of 9.29% and a return on equity of 25.49%. On average, research analysts anticipate that Amazon.com will post 6.24 earnings per share for the current fiscal year.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,850 shares of company stock valued at $6,168,581. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently added to or reduced their stakes in the stock. Prudent Man Investment Management Inc. acquired a new position in Amazon.com in the fourth quarter valued at about $27,000. Accordant Advisory Group Inc raised its position 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 buying an additional 100 shares in the last quarter. Perritt Capital Management Inc lifted its holdings in shares of Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after acquiring an additional 80 shares during the period. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the 3rd quarter worth approximately $37,000. Finally, Compass Planning Associates Inc bought a new position in Amazon.com in the fourth quarter valued at approximately $51,000. Institutional investors own 72.20% of the company’s stock.

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.