Traders Sell Amazon.com, Inc. (AMZN) on Strength on Analyst Downgrade

Investors sold shares of Amazon.com, Inc. (NASDAQ:AMZN) on strength during trading on Monday after Pacific Crest lowered their price target on the stock from $905.00 to $895.00. $487.80 million flowed into the stock on the tick-up and $584.04 million flowed out of the stock on the tick-down, for a money net flow of $96.24 million out of the stock. Of all equities tracked, Amazon.com had the 3rd highest net out-flow for the day. Amazon.com traded up $4.66 for the day and closed at $856.97

Several other brokerages have also recently issued reports on AMZN. Citigroup Inc restated a “buy” rating on shares of Amazon.com in a report on Wednesday, February 22nd. CLSA restated an “outperform” rating and issued a $950.00 target price on shares of Amazon.com in a report on Wednesday, February 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $965.00 target price on shares of Amazon.com in a report on Monday, March 13th. Vetr upgraded shares of Amazon.com from a “hold” rating to a “buy” rating and set a $888.37 target price on the stock in a report on Thursday. Finally, Aegis restated a “buy” rating on shares of Amazon.com in a report on Wednesday, March 15th. Five equities research analysts have rated the stock with a hold rating and forty-six have issued a buy rating to the company’s stock. Amazon.com presently has an average rating of “Buy” and a consensus target price of $939.14.

In other news, insider David Zapolsky sold 503 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $850.00, for a total value of $427,550.00. Following the completion of the sale, the insider now directly owns 2,523 shares in the company, valued at $2,144,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tom A. Alberg sold 590 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $850.00, for a total transaction of $501,500.00. Following the completion of the sale, the director now owns 22,525 shares of the company’s stock, valued at $19,146,250. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. Davidson & Garrard Inc. boosted its stake in shares of Amazon.com by 17.6% in the third quarter. Davidson & Garrard Inc. now owns 4,201 shares of the e-commerce giant’s stock worth $3,518,000 after buying an additional 628 shares during the period. Waverton Investment Management Ltd boosted its stake in shares of Amazon.com by 28.4% in the third quarter. Waverton Investment Management Ltd now owns 48,369 shares of the e-commerce giant’s stock worth $40,500,000 after buying an additional 10,692 shares during the period. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in shares of Amazon.com by 4.3% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 54,366 shares of the e-commerce giant’s stock worth $45,521,000 after buying an additional 2,219 shares during the period. united american securities inc. d b a uas asset management boosted its stake in shares of Amazon.com by 32.7% in the third quarter. united american securities inc. d b a uas asset management now owns 15,196 shares of the e-commerce giant’s stock worth $12,724,000 after buying an additional 3,746 shares during the period. Finally, Davis R M Inc. boosted its stake in shares of Amazon.com by 3.5% in the third quarter. Davis R M Inc. now owns 1,786 shares of the e-commerce giant’s stock worth $1,495,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 65.08% of the company’s stock.

The company’s 50 day moving average price is $841.00 and its 200 day moving average price is $801.26. The firm has a market capitalization of $408.92 billion, a price-to-earnings ratio of 174.89 and a beta of 1.40.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.19. The company had revenue of $43.74 billion for the quarter, compared to analysts’ expectations of $44.66 billion. Amazon.com had a net margin of 1.74% and a return on equity of 13.87%. Amazon.com’s revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 EPS. On average, equities analysts anticipate that Amazon.com, Inc. will post $7.18 EPS for the current fiscal year.

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About Amazon.com

Amazon.com, Inc offers a range of products and services through its Websites. The Company’s products include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. The Company has three segments: North America, International and Amazon Web Services (AWS).

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