Amazon.com (NASDAQ:AMZN) Stock Price Down 1.7% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was down 1.7% during trading on Thursday . The stock traded as low as $193.85 and last traded at $195.41. Approximately 12,152,029 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 38,745,496 shares. The stock had previously closed at $198.89.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMZN. Oppenheimer boosted their target price on Amazon.com from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Maxim Group raised their price objective on shares of Amazon.com from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Roth Mkm upped their price target on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Moffett Nathanson boosted their target price on Amazon.com from $235.00 to $248.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $260.65.

Amazon.com Stock Down 3.4 %

The firm has a market capitalization of $2.04 trillion, a P/E ratio of 34.75, a P/E/G ratio of 1.50 and a beta of 1.19. 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 company’s 50-day simple moving average is $222.71 and its two-hundred day simple moving average is $207.20.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the transaction, the chief executive officer now owns 505,318 shares of the company’s stock, valued at approximately $115,434,843.92. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This represents a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,298 shares of company stock worth $22,871,828 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AMF Tjanstepension AB lifted its holdings in shares of Amazon.com by 44.3% during the 3rd quarter. AMF Tjanstepension AB now owns 2,641,401 shares of the e-commerce giant’s stock valued at $492,172,000 after purchasing an additional 811,425 shares during the last quarter. Kathleen S. Wright Associates Inc. raised its position in shares of Amazon.com by 0.5% in the third quarter. Kathleen S. Wright Associates Inc. now owns 13,675 shares of the e-commerce giant’s stock valued at $2,551,000 after buying an additional 70 shares during the last quarter. Harrington Investments INC lifted its stake in shares of Amazon.com by 0.4% in the third quarter. Harrington Investments INC now owns 28,027 shares of the e-commerce giant’s stock worth $5,222,000 after buying an additional 125 shares in the last quarter. CX Institutional grew its stake in Amazon.com by 4.1% during the 3rd quarter. CX Institutional now owns 99,959 shares of the e-commerce giant’s stock valued at $18,625,000 after acquiring an additional 3,903 shares in the last quarter. Finally, Wesbanco Bank Inc. lifted its stake in Amazon.com by 3.1% in the 3rd quarter. Wesbanco Bank Inc. now owns 368,553 shares of the e-commerce giant’s stock worth $68,672,000 after purchasing an additional 11,112 shares in the last quarter. 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.