Amazon.com (NASDAQ:AMZN) Shares Down 1.1% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN) shares dropped 1.1% during mid-day trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $232.00 to $225.00. Wells Fargo & Company currently has an overweight rating on the stock. Amazon.com traded as low as $172.34 and last traded at $173.55. Approximately 8,334,778 shares changed hands during trading, a decline of 80% from the average daily volume of 42,683,359 shares. The stock had previously closed at $175.50.

Other equities analysts have also issued reports about the company. Truist Financial raised their target price on Amazon.com from $220.00 to $230.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JMP Securities reiterated a “market outperform” rating and issued a $225.00 price objective on shares of Amazon.com in a research note on Wednesday, July 31st. Tigress Financial lifted their price objective on Amazon.com from $210.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Oppenheimer lifted their price objective on Amazon.com from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, BMO Capital Markets lifted their price objective on Amazon.com from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com presently has an average rating of “Buy” and a consensus target price of $221.36.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now owns 523,253 shares in the company, 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. In related news, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the completion of the transaction, the senior vice president now directly owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the transaction, the chief executive officer now owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,107,817 shares of company stock worth $1,221,241,837. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently modified their holdings of AMZN. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the 4th quarter worth approximately $30,000. PayPay Securities Corp boosted its stake in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after acquiring an additional 64 shares during the period. Strid Group LLC bought a new position in shares of Amazon.com during the 4th quarter worth approximately $43,000. Harbor Investment Advisory LLC lifted its holdings in Amazon.com by 0.7% during the 4th quarter. Harbor Investment Advisory LLC now owns 299,959 shares of the e-commerce giant’s stock worth $46,000 after purchasing an additional 1,988 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth approximately $46,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Performance

The firm has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 48.61, a PEG ratio of 1.32 and a beta of 1.15. The company has a fifty day moving average of $183.61 and a two-hundred day moving average of $181.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 22.35% and a net margin of 7.35%. As a group, equities research analysts predict that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal year.

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.