Amazon.com (NASDAQ:AMZN) Stock Price Down 5.5% Following Insider Selling

Shares of Amazon.com, Inc. (NASDAQ:AMZN) traded down 5.5% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $152.14 and last traded at $158.67. 29,912,563 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 43,180,648 shares. The stock had previously closed at $167.90.

Specifically, CEO Douglas J. Herrington sold 3,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now directly owns 503,753 shares in the company, valued at $95,335,255.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Shelley Reynolds sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $21,726,894.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com 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 sale, the chief executive officer now owns 503,753 shares in the company, valued at $95,335,255.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,111,990 shares of company stock worth $1,222,095,188. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMZN. Loop Capital lifted their price objective on Amazon.com from $215.00 to $225.00 and gave the company a “buy” rating in a report on Monday, May 6th. Bank of America decreased their price target on Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. UBS Group upped their price target on Amazon.com from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and set a $215.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. Finally, Mizuho upped their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. One 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 MarketBeat, the company has an average rating of “Buy” and a consensus price target of $221.88.

Amazon.com Stock Up 0.6 %

The business’s fifty day simple moving average is $186.73 and its 200 day simple moving average is $179.98. The stock has a market cap of $1.69 trillion, a price-to-earnings ratio of 45.36, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cooksen Wealth LLC bought a new position in Amazon.com during the 4th quarter worth approximately $30,000. PayPay Securities Corp boosted its position in shares of Amazon.com by 64.6% during the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after purchasing an additional 64 shares in the last quarter. Strid Group LLC acquired a new position in shares of Amazon.com in the 4th quarter valued at $43,000. Harbor Investment Advisory LLC increased its position in shares of Amazon.com by 0.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock valued at $46,000 after buying an additional 1,988 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth $46,000. 72.20% of the stock is currently owned by institutional investors.

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.