Amazon.com (NASDAQ:AMZN) Shares Down 2.2% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 2.2% on Thursday . The company traded as low as $202.16 and last traded at $203.78. Approximately 10,521,971 shares traded hands during trading, a decline of 72% from the average daily volume of 36,940,891 shares. The stock had previously closed at $208.36.

Analysts Set New Price Targets

AMZN has been the subject of several research reports. Loop Capital lifted their price target on shares of Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 price objective on shares of Amazon.com in a report on Tuesday, December 3rd. The Goldman Sachs Group boosted their target price on shares of Amazon.com from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Scotiabank raised 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 report on Friday, January 24th. Finally, TD Cowen boosted their price objective on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $260.65.

Amazon.com Price Performance

The firm’s 50 day simple moving average is $225.12 and its two-hundred day simple moving average is $206.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 36.01, a P/E/G ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping 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%. As a group, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares in the company, valued at $114,459,618.09. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the sale, the chief executive officer now directly owns 2,118,886 shares in the company, valued at $467,532,195.90. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,649 shares of company stock worth $23,871,905. Company insiders own 10.80% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently modified their holdings of AMZN. AMF Tjanstepension AB increased its position in shares of Amazon.com by 44.3% during the third quarter. AMF Tjanstepension AB now owns 2,641,401 shares of the e-commerce giant’s stock valued at $492,172,000 after acquiring an additional 811,425 shares in the last quarter. Gill Capital Partners LLC boosted its stake in Amazon.com by 21.3% during the 3rd quarter. Gill Capital Partners LLC now owns 8,931 shares of the e-commerce giant’s stock valued at $1,664,000 after purchasing an additional 1,567 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of Amazon.com by 30.6% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 21,972 shares of the e-commerce giant’s stock worth $4,094,000 after purchasing an additional 5,148 shares during the last quarter. Howard Financial Services LTD. lifted its holdings in shares of Amazon.com by 2.5% during the third quarter. Howard Financial Services LTD. now owns 24,780 shares of the e-commerce giant’s stock valued at $4,617,000 after purchasing an additional 598 shares in the last quarter. Finally, First PREMIER Bank boosted its position in shares of Amazon.com by 5.1% during the third quarter. First PREMIER Bank now owns 15,138 shares of the e-commerce giant’s stock valued at $2,821,000 after buying an additional 738 shares during the last quarter. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.