Amazon.com (NASDAQ:AMZN) Trading Down 0.6% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN) traded down 0.6% during mid-day trading on Friday . The company traded as low as $196.75 and last traded at $197.15. 7,491,490 shares changed hands during trading, a decline of 82% from the average session volume of 41,448,922 shares. The stock had previously closed at $198.38.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMZN shares. Needham & Company LLC raised their price target on shares of Amazon.com from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Benchmark increased their price objective on Amazon.com from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price objective on Amazon.com from $225.00 to $235.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen increased their target price on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Monness Crespi & Hardt raised their price objective on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.77.

Amazon.com Stock Performance

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 company has a 50-day simple moving average of $192.79 and a two-hundred day simple moving average of $186.26. The firm has a market capitalization of $2.08 trillion, a P/E ratio of 42.22, a PEG ratio of 1.37 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.29. The firm had revenue of $158.88 billion during the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. Amazon.com’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. As a group, equities analysts forecast that Amazon.com, Inc. will post 5.27 EPS for the current year.

Insider Buying and Selling at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the sale, the insider now directly owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares of the company’s stock, valued at approximately $12,171,900. The trade was a 3.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,011,423 shares of company stock valued at $1,249,093,896. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several hedge funds have recently made changes to their positions in the business. Sculati Wealth Management LLC grew its position in shares of Amazon.com by 0.3% in the third quarter. Sculati Wealth Management LLC now owns 37,930 shares of the e-commerce giant’s stock valued at $6,842,000 after purchasing an additional 124 shares during the last quarter. Eaton Financial Holdings Company LLC bought a new stake in shares of Amazon.com during the third quarter worth $3,937,000. Anchor Investment Management LLC lifted its stake in Amazon.com by 4.7% in the third quarter. Anchor Investment Management LLC now owns 66,237 shares of the e-commerce giant’s stock valued at $12,342,000 after buying an additional 2,961 shares during the period. Tudor Financial Inc. acquired a new position in Amazon.com in the third quarter valued at about $720,000. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in shares of Amazon.com by 88.4% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 27,897 shares of the e-commerce giant’s stock worth $5,169,000 after acquiring an additional 13,090 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.