Morgan Stanley Lowers Amazon.com (NASDAQ:AMZN) Price Target to $210.00

Amazon.com (NASDAQ:AMZN) had its price target cut by Morgan Stanley from $240.00 to $210.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the e-commerce giant’s stock.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird lifted their price target on Amazon.com from $210.00 to $213.00 and gave the company an outperform rating in a report on Friday, June 21st. Royal Bank of Canada reaffirmed an outperform rating and set a $215.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. Monness Crespi & Hardt increased their price target on Amazon.com from $215.00 to $225.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Wolfe Research began coverage on shares of Amazon.com in a research note on Tuesday, July 16th. They set an outperform rating and a $250.00 price objective on the stock. Finally, DA Davidson reiterated a buy rating and issued a $235.00 target price on shares of Amazon.com in a research report on Thursday, April 18th. One analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has an average rating of Buy and an average price target of $221.88.

Amazon.com Trading Up 1.9 %

Shares of NASDAQ:AMZN opened at $165.80 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $185.67 and its 200 day moving average price is $179.80. The company has a market cap of $1.73 trillion, a PE ratio of 46.44, a P/E/G ratio of 1.32 and a beta of 1.15. Amazon.com has a fifty-two week low of $118.35 and a fifty-two week high of $201.20.

Insider Activity

In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total transaction of $620,515.00. Following the completion of the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now directly owns 523,253 shares of the company’s stock, valued at $92,767,524.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total value of $617,239,158.12. Following the sale, the insider now owns 931,925,277 shares of the company’s stock, valued at $186,450,290,169.39. The disclosure for this sale can be found here. Insiders have sold 6,106,726 shares of company stock worth $1,221,095,028 in the last 90 days. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds have recently added to or reduced their stakes in AMZN. Vanguard Group Inc. increased its stake in shares of Amazon.com by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Norges Bank bought a new stake in Amazon.com in the fourth quarter worth $17,700,551,000. Capital Research Global Investors increased its position in Amazon.com by 8.5% during the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after buying an additional 6,810,145 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Amazon.com by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Amazon.com by 0.5% in the first quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after buying an additional 295,132 shares during the last quarter. 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.