Itau BBA Securities Lowers Amazon.com (NASDAQ:AMZN) to Market Perform

Itau BBA Securities lowered shares of Amazon.com (NASDAQ:AMZN) from an outperform rating to a market perform rating in a report released on Friday morning, MarketBeat Ratings reports. They currently have $186.00 price objective on the e-commerce giant’s stock.

Other analysts have also recently issued reports about the company. Oppenheimer boosted their price objective on Amazon.com from $210.00 to $220.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Moffett Nathanson restated a buy rating and issued a $228.00 target price on shares of Amazon.com in a research report on Thursday, April 11th. Sanford C. Bernstein boosted their price target on Amazon.com from $210.00 to $215.00 and gave the stock an outperform rating in a research report on Monday, July 22nd. Argus increased their target price on shares of Amazon.com from $185.00 to $205.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, UBS Group boosted their price target on shares of Amazon.com from $217.00 to $224.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus target price of $222.58.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $161.02 on Friday. The stock has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 44.45, a PEG ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The firm’s 50 day simple moving average is $187.12 and its 200-day simple moving average is $179.92. Amazon.com has a 12 month low of $118.35 and a 12 month high of $201.20.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 5,264 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the transaction, the director now directly owns 104,400 shares of the company’s stock, valued at approximately $19,836,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Jonathan Rubinstein sold 5,264 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.00, for a total value of $1,000,160.00. Following the completion of the transaction, the director now owns 104,400 shares in the company, valued at approximately $19,836,000. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the sale, the chief executive officer now owns 503,753 shares in the company, valued at approximately $95,335,255.25. The disclosure for this sale can be found here. Insiders sold 6,111,990 shares of company stock worth $1,222,095,188 over the last 90 days. 10.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors have recently modified their holdings of the business. Norges Bank purchased a new position in Amazon.com during the fourth quarter worth about $17,700,551,000. International Assets Investment Management LLC boosted its stake in shares of Amazon.com by 16,029.3% during the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after purchasing an additional 23,717,254 shares during the last quarter. Vanguard Group Inc. grew its stake in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after acquiring an additional 14,724,687 shares during the period. Swedbank AB acquired a new position in Amazon.com in the first quarter valued at $2,239,757,000. Finally, Capital World Investors increased its stake in shares of Amazon.com by 64.6% during the 1st quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after acquiring an additional 11,524,463 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.