Morgan Stanley Cuts Amazon.com (NASDAQ:AMZN) Price Target to $210.00

Amazon.com (NASDAQ:AMZN) had its target price trimmed by Morgan Stanley from $240.00 to $210.00 in a report released on Tuesday, Benzinga reports. The firm currently has an overweight rating on the e-commerce giant’s stock.

A number of other research analysts have also recently commented on AMZN. DA Davidson reaffirmed a buy rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, April 18th. Itau BBA Securities cut shares of Amazon.com from an outperform rating to a market perform rating and set a $186.00 price objective for the company. in a research report on Friday, August 2nd. Raymond James boosted their target price on Amazon.com from $200.00 to $205.00 and gave the company a strong-buy rating in a research report on Wednesday, May 1st. Wedbush restated an outperform rating and set a $225.00 price target on shares of Amazon.com in a research note on Friday, August 2nd. Finally, Rosenblatt Securities lifted their price objective on Amazon.com from $220.00 to $221.00 and gave the company a buy rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $221.88.

Amazon.com Price Performance

NASDAQ:AMZN opened at $165.80 on Tuesday. The company has a market capitalization of $1.73 trillion, a P/E ratio of 46.44, a P/E/G ratio of 1.32 and a beta of 1.15. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Amazon.com has a 52 week low of $118.35 and a 52 week high of $201.20. The stock’s fifty day moving average is $185.67 and its two-hundred day moving average is $179.80.

Insider Buying and Selling

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total value of $3,771,048.96. Following the completion of the transaction, the chief executive officer now owns 2,025,358 shares in the company, valued at $367,480,955.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at approximately $92,767,524.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at approximately $367,480,955.52. The disclosure for this sale can be found here. Insiders have sold 6,106,726 shares of company stock worth $1,221,095,028 in the last ninety days. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

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

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.