Amazon.com (NASDAQ:AMZN) Stock Price Down 0.7% Following Analyst Downgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 0.7% on Tuesday after DA Davidson lowered their price target on the stock from $280.00 to $230.00. DA Davidson currently has a buy rating on the stock. Amazon.com traded as low as $179.45 and last traded at $180.76. Approximately 12,309,754 shares traded hands during trading, a decline of 70% from the average daily volume of 41,520,023 shares. The stock had previously closed at $182.12.

Several other research analysts also recently weighed in on the stock. Citigroup dropped their target price on shares of Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. decreased their target price on Amazon.com from $270.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group increased their price objective on shares of Amazon.com from $230.00 to $264.00 and gave the company a “buy” rating in a report on Monday, December 16th. Bank of America cut their target price on shares of Amazon.com from $257.00 to $225.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a report on Monday. Two investment analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.56.

Insider Buying and Selling

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the sale, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock valued at $23,341,803 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Amazon.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cable Hill Partners LLC increased its holdings in Amazon.com by 0.5% in the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock valued at $2,104,000 after buying an additional 44 shares in the last quarter. Quattro Financial Advisors LLC increased its stake in shares of Amazon.com by 23.8% in the 4th 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. Northern Capital Management Inc. boosted its position in Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after purchasing an additional 45 shares in the last quarter. White Wing Wealth Management increased its position in shares of 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 valued at $433,000 after buying an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its stake in shares of Amazon.com by 0.6% during the 4th 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 during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

Amazon.com Stock Down 0.6 %

The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 32.79, a PEG ratio of 1.50 and a beta of 1.39. The business’s 50 day moving average is $203.14 and its 200-day moving average is $208.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 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 24.25%. On average, sell-side analysts predict that Amazon.com, Inc. will post 6.31 EPS 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.