Amazon.com (NASDAQ:AMZN) Stock Price Down 1.9% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 1.9% on Thursday . The stock traded as low as $233.27 and last traded at $232.54. Approximately 9,982,501 shares changed hands during trading, a decline of 68% from the average daily volume of 31,205,988 shares. The stock had previously closed at $237.07.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AMZN shares. Mizuho upped their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Redburn Atlantic upped their target price on shares of Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a report on Tuesday, January 21st. TD Cowen upped 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. Finally, Wedbush restated an “outperform” rating and issued a $280.00 price target (up previously from $260.00) on shares of Amazon.com in a research note on Monday. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has a consensus rating of “Moderate Buy” and an average target price of $249.46.

Amazon.com Stock Performance

The firm has a market cap of $2.47 trillion, a PE ratio of 50.24, a price-to-earnings-growth ratio of 1.31 and a beta of 1.14. The business has a 50 day simple moving average of $222.30 and a two-hundred day simple moving average of $198.30. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data 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 analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, equities research analysts forecast that Amazon.com, Inc. will post 5.39 earnings per share for the current fiscal year.

Insider Activity

In other Amazon.com news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total transaction of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of Amazon.com stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total value of $3,054,899.40. Following the completion of the transaction, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. This represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds have recently modified their holdings of the stock. Heritage Family Offices LLP purchased a new position in Amazon.com in the second quarter valued at $206,000. Rhumbline Advisers raised its holdings in Amazon.com by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 17,737,203 shares of the e-commerce giant’s stock worth $3,427,714,000 after purchasing an additional 130,996 shares during the period. TIAA Trust National Association grew its holdings in Amazon.com by 4.2% in the second quarter. TIAA Trust National Association now owns 816,632 shares of the e-commerce giant’s stock valued at $157,815,000 after purchasing an additional 33,128 shares during the period. Princeton Capital Management LLC raised its stake in shares of Amazon.com by 0.7% during the 2nd quarter. Princeton Capital Management LLC now owns 118,506 shares of the e-commerce giant’s stock worth $22,901,000 after buying an additional 807 shares during the period. Finally, Affiance Financial LLC grew its stake in Amazon.com by 0.6% in the 2nd quarter. Affiance Financial LLC now owns 10,750 shares of the e-commerce giant’s stock valued at $2,077,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds 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.