Amazon.com (NASDAQ:AMZN) Trading Down 1.5% – What’s Next?

Shares of Amazon.com, Inc. (NASDAQ:AMZN) were down 1.5% during mid-day trading on Tuesday . The company traded as low as $227.85 and last traded at $229.48. Approximately 10,431,573 shares changed hands during trading, a decline of 75% from the average daily volume of 41,114,602 shares. The stock had previously closed at $232.93.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday. Rosenblatt Securities lifted their target price on Amazon.com from $221.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price target on Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company reiterated an “equal weight” rating and issued a $197.00 price objective on shares of Amazon.com in a research report on Wednesday, November 20th. Finally, Loop Capital boosted their price objective on Amazon.com from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and an average price target of $242.00.

Amazon.com Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The business’s 50-day moving average is $204.37 and its 200 day moving average is $190.75. The firm has a market capitalization of $2.35 trillion, a P/E ratio of 47.81, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.85 earnings per share. As a group, analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of the business’s 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 of the company’s stock, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of Amazon.com stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total value of $427,050.00. Following the completion of the transaction, the senior vice president now owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 3.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,034,534 shares of company stock worth $1,253,883,872. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Several hedge funds and other institutional investors have recently made changes to their positions in AMZN. Icon Wealth Advisors LLC lifted its stake in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the last quarter. PayPay Securities Corp increased its holdings in Amazon.com by 64.6% in the 2nd 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. Hoese & Co LLP bought a new position in Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC bought a new stake in shares of Amazon.com during the third quarter worth about $45,000. Finally, Values First Advisors Inc. acquired a new position in shares of Amazon.com in the third quarter valued at approximately $56,000. 72.20% of the stock is owned by institutional investors.

About Amazon.com

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.