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

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price gapped down prior to trading on Friday after Wells Fargo & Company lowered their price target on the stock from $212.00 to $207.00. The stock had previously closed at $238.83, but opened at $232.50. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com shares last traded at $230.59, with a volume of 26,820,696 shares traded.

Other research analysts have also recently issued reports about the stock. Bank of America lifted their price target on shares of Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus raised their target price on shares of Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Scotiabank boosted their price target on Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $270.00 target price on shares of Amazon.com in a report on Wednesday, January 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $280.00 price target on shares of Amazon.com in a research note on Friday. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $254.80.

Insider Buying and Selling

In related news, insider Jeffrey P. Bezos sold 2,996,362 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the sale, the insider now directly owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the transaction, the director now owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,026,212 shares of company stock worth $625,666,424. Insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several hedge funds have recently modified their holdings of AMZN. Cable Hill Partners LLC lifted its position in shares of Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after acquiring an additional 44 shares during the period. Quattro Financial Advisors LLC raised its stake in shares of Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management lifted its position in Amazon.com by 2.4% in the fourth quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock worth $433,000 after purchasing an additional 47 shares during the period. MBM Wealth Consultants LLC boosted its stake in Amazon.com by 0.6% during the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock worth $1,889,000 after buying an additional 48 shares in the last quarter. Finally, Semus Wealth Partners LLC raised its stake in shares of Amazon.com by 0.3% in the 3rd quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant’s stock valued at $3,339,000 after buying an additional 49 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Down 3.8 %

The company has a market capitalization of $2.41 trillion, a P/E ratio of 49.18, a P/E/G ratio of 1.35 and a beta of 1.15. The business’s fifty day moving average price is $226.51 and its 200 day moving average price is $200.30. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. As a group, equities research analysts predict that Amazon.com, Inc. will post 5.3 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.