Amazon.com (NASDAQ:AMZN) Shares Down 1.7% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s share price was down 1.7% during trading on Thursday . The stock traded as low as $193.85 and last traded at $195.41. Approximately 12,152,029 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 38,745,496 shares. The stock had previously closed at $198.89.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AMZN shares. Robert W. Baird boosted their price objective on Amazon.com from $220.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Canaccord Genuity Group restated a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. TD Cowen boosted their price objective on Amazon.com from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 target price on shares of Amazon.com in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $260.65.

Amazon.com Stock Performance

The firm has a fifty day moving average price of $221.65 and a 200 day moving average price of $207.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The stock has a market cap of $2.10 trillion, a PE ratio of 35.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now owns 2,118,886 shares in the company, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 5,501 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total value of $1,256,648.44. Following the completion of the transaction, the chief executive officer now owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,298 shares of company stock worth $22,871,828. Insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudent Man Investment Management Inc. acquired a new stake in Amazon.com during the 4th quarter worth about $27,000. Accordant Advisory Group Inc grew its position in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. LSV Asset Management acquired a new stake in Amazon.com during the 4th quarter worth about $35,000. Perritt Capital Management Inc grew its position in Amazon.com by 72.7% during the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares during the period. Finally, Compass Planning Associates Inc acquired a new stake in shares of Amazon.com during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.