Citigroup Has Lowered Expectations for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its price target lowered by equities research analysts at Citigroup from $275.00 to $273.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the e-commerce giant’s stock. Citigroup’s price objective would suggest a potential upside of 19.14% from the stock’s previous close.

A number of other brokerages have also weighed in on AMZN. Monness Crespi & Hardt upped their price objective on Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their price target on shares of Amazon.com from $230.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays raised their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday. 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 research report on Monday, December 16th. Finally, Pivotal Research initiated coverage on Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $260.20.

Amazon.com Stock Performance

Amazon.com stock traded down $9.68 during trading hours on Friday, reaching $229.15. 77,420,680 shares of the stock were exchanged, compared to its average volume of 35,870,125. Amazon.com has a 52-week low of $151.61 and a 52-week high of $242.52. The stock has a market cap of $2.41 trillion, a P/E ratio of 49.07, a P/E/G ratio of 1.35 and a beta of 1.15. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm’s 50 day moving average is $226.51 and its 200 day moving average is $200.30.

Amazon.com (NASDAQ:AMZN) last posted its quarterly 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 net margin of 8.04% and a return on equity of 22.41%. Analysts predict that Amazon.com will post 5.3 EPS for the current fiscal year.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey P. Bezos sold 2,996,362 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $206.75, for a total value of $619,497,843.50. Following the sale, the insider now owns 914,420,614 shares of the company’s stock, valued at approximately $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,026,212 shares of company stock valued at $625,666,424 over the last quarter. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several institutional investors and hedge funds have recently made changes to their positions in AMZN. Warwick Investment Management Inc. lifted its position in shares of Amazon.com by 2.9% during the fourth quarter. Warwick Investment Management Inc. now owns 8,829 shares of the e-commerce giant’s stock worth $1,937,000 after purchasing an additional 246 shares during the last quarter. Saturna Capital Corp raised its stake in Amazon.com by 1.8% during the fourth quarter. Saturna Capital Corp now owns 28,999 shares of the e-commerce giant’s stock valued at $6,362,000 after buying an additional 505 shares in the last quarter. Summit X LLC lifted its holdings in Amazon.com by 11.4% during the 4th quarter. Summit X LLC now owns 24,485 shares of the e-commerce giant’s stock worth $5,372,000 after buying an additional 2,500 shares during the last quarter. Wealth High Governance Capital Ltda grew its position in shares of Amazon.com by 396.0% in the 4th quarter. Wealth High Governance Capital Ltda now owns 49,600 shares of the e-commerce giant’s stock worth $10,882,000 after acquiring an additional 39,600 shares in the last quarter. Finally, Windle Wealth LLC increased its holdings in shares of Amazon.com by 6.6% in the 4th quarter. Windle Wealth LLC now owns 12,884 shares of the e-commerce giant’s stock valued at $2,827,000 after acquiring an additional 800 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.