Amazon.com (NASDAQ:AMZN) Stock Price Down 2.4% – Here’s Why

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 2.4% on Tuesday . The stock traded as low as $189.38 and last traded at $191.13. Approximately 14,203,940 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 38,115,478 shares. The stock had previously closed at $195.74.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AMZN shares. Oppenheimer increased their price target on Amazon.com from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Canaccord Genuity Group reissued a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Benchmark raised their price objective on shares of Amazon.com from $215.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. TD Cowen boosted their target price on Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Piper Sandler reissued an “overweight” rating and issued a $265.00 price target (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.65.

Amazon.com Price Performance

The company has a market cap of $2.03 trillion, a PE ratio of 34.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The business’s 50 day moving average price is $221.02 and its 200-day moving average price is $207.92. 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 earnings per share 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%. As a group, analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares in the company, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brian T. Olsavsky sold 14,620 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $223.14, for a total transaction of $3,262,306.80. Following the sale, the chief financial officer now directly owns 49,000 shares in the company, valued at $10,933,860. This trade represents a 22.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,298 shares of company stock worth $22,871,828 in the last three months. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMZN. Cable Hill Partners LLC lifted its stake in shares of Amazon.com by 0.5% in the 4th quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after acquiring an additional 44 shares during the period. Quattro Financial Advisors LLC increased its position in shares of 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 purchasing an additional 45 shares during the period. Northern Capital Management Inc. raised its stake in shares of 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 buying an additional 45 shares in the last quarter. White Wing Wealth Management raised its stake in shares of Amazon.com by 2.4% in the 4th quarter. White Wing Wealth Management now owns 1,972 shares of the e-commerce giant’s stock worth $433,000 after buying an additional 47 shares in the last quarter. Finally, MBM Wealth Consultants LLC lifted its holdings 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 buying an additional 48 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.