Amazon.com (NASDAQ:AMZN) Trading Down 0.8% – Here’s What Happened

Shares of Amazon.com, Inc. (NASDAQ:AMZN) were down 0.8% during mid-day trading on Friday . The stock traded as low as $227.23 and last traded at $228.52. Approximately 9,084,561 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 34,230,801 shares. The stock had previously closed at $230.37.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMZN. Bank of America lifted their target price on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Evercore ISI upped their target price on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 target price on shares of Amazon.com in a report on Tuesday, December 3rd. Scotiabank boosted their price target on shares of Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Finally, UBS Group increased their price objective on Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $260.74.

Amazon.com Trading Down 0.7 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market capitalization of $2.40 trillion, a PE ratio of 41.34, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. The business’s 50-day moving average is $228.18 and its two-hundred day moving average is $201.98.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 25.49%. As a group, equities research analysts anticipate that Amazon.com, Inc. will post 6.24 earnings per share for the current year.

Insider Transactions at Amazon.com

In other news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the sale, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. This represents a 4.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 24,348 shares of company stock valued at $5,036,214. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently bought and sold shares of AMZN. Rench Wealth Management Inc. grew its stake in Amazon.com by 7.9% in the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after acquiring an additional 3,703 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Blankinship & Foster LLC grew its position in shares of Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after purchasing an additional 4,740 shares during the last quarter. Umpqua Bank increased its stake in shares of Amazon.com by 0.4% during the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after purchasing an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC acquired a new position in shares of Amazon.com during the 4th quarter worth approximately $4,270,000. 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.