The Goldman Sachs Group Trims Amazon.com (NASDAQ:AMZN) Target Price to $230.00

Amazon.com (NASDAQ:AMZN) had its price target cut by The Goldman Sachs Group from $250.00 to $230.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the e-commerce giant’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 24.95% from the stock’s current price.

AMZN has been the subject of a number of other reports. Rosenblatt Securities restated a “buy” rating and set a $220.00 price target on shares of Amazon.com in a research note on Wednesday, May 1st. Tigress Financial upped 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. Roth Mkm reiterated a “buy” rating and set a $210.00 target price on shares of Amazon.com in a research report on Tuesday, July 9th. Telsey Advisory Group boosted their price target on Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Mizuho raised their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.67.

Amazon.com Price Performance

NASDAQ AMZN opened at $184.07 on Friday. Amazon.com has a one year low of $118.35 and a one year high of $201.20. The stock has a 50-day moving average of $187.38 and a 200 day moving average of $179.45. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 51.56, a PEG ratio of 1.34 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released 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 net margin of 6.38% and a return on equity of 19.86%. On average, sell-side analysts forecast that Amazon.com will post 4.73 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 266,396 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $200.01, for a total value of $53,281,863.96. Following the completion of the transaction, the insider now owns 928,433,873 shares of the company’s stock, valued at $185,696,058,938.73. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey P. Bezos sold 266,396 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $200.01, for a total transaction of $53,281,863.96. Following the completion of the transaction, the insider now owns 928,433,873 shares in the company, valued at approximately $185,696,058,938.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,109,490 shares of company stock valued at $1,221,619,033. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently bought and sold shares of AMZN. Cooksen Wealth LLC purchased a new position in shares of Amazon.com during the 4th quarter valued at approximately $30,000. PayPay Securities Corp increased its stake 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 during the 4th quarter worth about $43,000. Harbor Investment Advisory LLC boosted its holdings in 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 worth $46,000 after buying an additional 1,988 shares during the last quarter. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Amazon.com in the fourth quarter worth approximately $46,000. 72.20% of the stock is currently 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.