Amazon.com (NASDAQ:AMZN) Stock Price Down 8.7% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s share price dropped 8.7% during mid-day trading on Thursday . The stock traded as low as $176.92 and last traded at $178.92. Approximately 42,136,022 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 40,083,354 shares. The stock had previously closed at $196.01.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMZN shares. Mizuho lifted their target price on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Loop Capital boosted their price objective on Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Tigress Financial raised their target price on Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $250.00 price target on shares of Amazon.com in a research report on Friday, February 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $270.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.53.

Amazon.com Trading Down 9.0 %

The business’s 50 day moving average is $214.60 and its two-hundred day moving average is $209.22. The firm has a market capitalization of $1.89 trillion, a P/E ratio of 32.26, a PEG ratio of 1.50 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating 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%. Analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insiders Place Their Bets

In other Amazon.com news, SVP David Zapolsky sold 19,212 shares of Amazon.com stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $217.50, for a total value of $4,178,610.00. Following the transaction, the senior vice president now owns 49,950 shares in the company, valued at approximately $10,864,125. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the sale, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,298 shares of company stock worth $22,871,828. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors and hedge funds have recently modified their holdings of AMZN. Versant Capital Management Inc increased its stake in Amazon.com by 67.5% in the 1st quarter. Versant Capital Management Inc now owns 20,599 shares of the e-commerce giant’s stock worth $3,919,000 after purchasing an additional 8,298 shares in the last quarter. Adirondack Trust Co. increased its position in shares of Amazon.com by 0.9% in the first quarter. Adirondack Trust Co. now owns 37,064 shares of the e-commerce giant’s stock worth $7,052,000 after acquiring an additional 334 shares in the last quarter. First Citizens Financial Corp raised its holdings in shares of Amazon.com by 30.4% during the first quarter. First Citizens Financial Corp now owns 2,707 shares of the e-commerce giant’s stock valued at $515,000 after acquiring an additional 631 shares during the period. Legacy Wealth Management LLC MS raised its holdings in shares of Amazon.com by 153.3% during the first quarter. Legacy Wealth Management LLC MS now owns 24,594 shares of the e-commerce giant’s stock valued at $4,679,000 after acquiring an additional 14,886 shares during the period. Finally, Lederer & Associates Investment Counsel CA lifted its position in shares of Amazon.com by 3.9% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 23,138 shares of the e-commerce giant’s stock valued at $4,402,000 after acquiring an additional 863 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.