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

Amazon.com (NASDAQ:AMZN) had its price target reduced by equities researchers at DA Davidson from $280.00 to $230.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce giant’s stock. DA Davidson’s price target indicates a potential upside of 26.50% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Truist Financial reduced their price target on Amazon.com from $265.00 to $230.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada raised their target price on shares of Amazon.com from $255.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $265.00 price objective (up previously from $225.00) on shares of Amazon.com in a research report on Friday, February 7th. HSBC upped their target price on shares of Amazon.com from $225.00 to $270.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $270.00 price target on shares of Amazon.com in a report on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $253.56.

Amazon.com Stock Down 1.6 %

AMZN stock traded down $3.05 during mid-day trading on Monday, hitting $181.82. 33,106,687 shares of the company were exchanged, compared to its average volume of 41,575,340. The firm has a market cap of $1.93 trillion, a P/E ratio of 32.88, a P/E/G ratio of 1.50 and a beta of 1.39. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. Amazon.com has a 1-year low of $151.61 and a 1-year high of $242.52. The firm’s 50 day simple moving average is $204.23 and its 200 day simple moving average is $208.54.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) 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%. On average, sell-side analysts predict that Amazon.com will post 6.31 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, CEO Douglas J. Herrington sold 27,500 shares of Amazon.com stock in a transaction on 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 sale, the chief executive officer now directly owns 497,067 shares of the company’s stock, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP David Zapolsky sold 5,848 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $220.72, for a total value of $1,290,770.56. Following the completion of the sale, the senior vice president now owns 69,162 shares of the company’s stock, valued at approximately $15,265,436.64. This represents a 7.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,798 shares of company stock worth $23,341,803 in the last quarter. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Several hedge funds have recently bought and sold shares of AMZN. Single Point Partners LLC lifted its stake in shares of Amazon.com by 5.8% in the first quarter. Single Point Partners LLC now owns 4,483 shares of the e-commerce giant’s stock valued at $853,000 after buying an additional 246 shares in the last quarter. Priebe Wealth Holdings LLC raised its position in Amazon.com by 14.4% in the 1st quarter. Priebe Wealth Holdings LLC now owns 2,740 shares of the e-commerce giant’s stock valued at $521,000 after buying an additional 345 shares during the last quarter. 25 LLC boosted its holdings in Amazon.com by 4.0% during the 1st quarter. 25 LLC now owns 5,847 shares of the e-commerce giant’s stock worth $1,112,000 after acquiring an additional 227 shares during the last quarter. Abacus Planning Group Inc. grew its stake in shares of Amazon.com by 0.6% in the 1st quarter. Abacus Planning Group Inc. now owns 92,206 shares of the e-commerce giant’s stock worth $17,543,000 after acquiring an additional 578 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its position in shares of Amazon.com by 9.9% during the first quarter. Capital Investment Advisors LLC now owns 252,395 shares of the e-commerce giant’s stock valued at $48,021,000 after purchasing an additional 22,724 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.