Amazon.com (NASDAQ:AMZN) Stock Price Down 3% on Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s share price was down 3% during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $207.00 to $203.00. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com traded as low as $206.16 and last traded at $206.23. Approximately 19,296,908 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 35,073,996 shares. The stock had previously closed at $212.71.

Several other research firms also recently commented on AMZN. JPMorgan Chase & Co. boosted their price objective on Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Scotiabank boosted their price target on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group raised their price objective on shares of Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Phillip Securities cut shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 10th. Finally, UBS Group upped their target price on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $260.65.

Insider Transactions at Amazon.com

In other Amazon.com news, Director Jonathan Rubinstein sold 4,351 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total value 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 $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 available at this hyperlink. Also, CEO Douglas J. Herrington sold 5,501 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,852 shares of company stock valued at $9,324,151. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Cable Hill Partners LLC boosted its position in Amazon.com by 0.5% during 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 during the period. Quattro Financial Advisors LLC raised its holdings in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after buying an additional 45 shares during the last quarter. Northern Capital Management Inc. grew its holdings in Amazon.com by 0.6% in the 4th quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after acquiring an additional 45 shares during 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 acquiring an additional 47 shares during the period. Finally, MBM Wealth Consultants LLC increased its position in shares of Amazon.com by 0.6% in the fourth quarter. MBM Wealth Consultants LLC now owns 8,578 shares of the e-commerce giant’s stock valued at $1,889,000 after acquiring an additional 48 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Trading Down 3.0 %

The stock has a market capitalization of $2.19 trillion, a P/E ratio of 37.29, a P/E/G ratio of 1.50 and a beta of 1.15. The firm’s 50 day moving average price is $227.48 and its 200 day moving average price is $204.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last announced its earnings results 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 return on equity of 24.25% and a net margin of 9.29%. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.