Amazon.com (NASDAQ:AMZN) Trading Down 3.8% Following Analyst Downgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) fell 3.8% on Friday after Wells Fargo & Company lowered their price target on the stock from $212.00 to $207.00. Wells Fargo & Company currently has an equal weight rating on the stock. Amazon.com traded as low as $228.50 and last traded at $229.84. 35,457,823 shares traded hands during trading, an increase of 4% from the average session volume of 34,073,523 shares. The stock had previously closed at $238.83.

A number of other analysts also recently issued reports on AMZN. Jefferies Financial Group lifted their price target on Amazon.com from $235.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, December 16th. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a research report on Tuesday, December 3rd. Oppenheimer lifted their price target on Amazon.com from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 price target on shares of Amazon.com in a research report on Wednesday, January 22nd. Finally, Pivotal Research assumed coverage on Amazon.com in a research report on Friday, October 11th. They issued a “buy” rating and a $260.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $255.47.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the stock in a transaction dated 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 directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,026,212 shares of company stock valued at $625,666,424. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Accordant Advisory Group Inc increased its position in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Icon Wealth Advisors LLC grew its position in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares in the last quarter. Hoese & Co LLP purchased a new stake in shares of Amazon.com during the third quarter worth about $37,000. Bull Oak Capital LLC purchased a new stake in shares of Amazon.com during the third quarter worth about $45,000. Finally, Quattro Financial Advisors LLC grew its position in shares of Amazon.com by 23.8% during the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Price Performance

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 firm has a 50-day moving average of $226.51 and a 200-day moving average of $200.30. The stock has a market cap of $2.41 trillion, a PE ratio of 49.08, a PEG ratio of 1.35 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. Research analysts predict that Amazon.com, Inc. will post 5.3 EPS for the current 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.