Amazon.com (NASDAQ:AMZN) Shares Down 0.3% Following Analyst Downgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 0.3% on Thursday after Cantor Fitzgerald lowered their price target on the stock from $270.00 to $230.00. Cantor Fitzgerald currently has an overweight rating on the stock. Amazon.com traded as low as $172.60 and last traded at $173.79. Approximately 12,873,552 shares were traded during trading, a decline of 69% from the average daily volume of 41,579,330 shares. The stock had previously closed at $174.33.

A number of other research firms have also recently issued reports on AMZN. Mizuho lowered their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of Amazon.com from $270.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Sanford C. Bernstein upped their target price on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Loop Capital raised their price target on shares of Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $252.73.

Insiders Place Their Bets

In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com 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 transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,798 shares of company stock worth $23,341,803. Company insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Prudent Man Investment Management Inc. acquired a new stake in shares of Amazon.com in the 4th quarter valued at about $27,000. Accordant Advisory Group Inc lifted its stake in Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. LSV Asset Management bought a new position in shares of Amazon.com during the 4th quarter worth approximately $35,000. Perritt Capital Management Inc lifted its position in shares of Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 80 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new position in Amazon.com during the fourth quarter worth $51,000. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 0.6 %

The firm’s 50 day simple moving average is $200.86 and its 200-day simple moving average is $208.06. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating 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%. Equities analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.