Amazon.com (NASDAQ:AMZN) Price Target Cut to $273.00 by Analysts at Citigroup

Amazon.com (NASDAQ:AMZN) had its price target reduced by Citigroup from $275.00 to $273.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the e-commerce giant’s stock.

A number of other research analysts have also weighed in on AMZN. Stifel Nicolaus raised their price objective on Amazon.com from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Friday. Bank of America raised their price target on Amazon.com from $210.00 to $230.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price target on shares of Amazon.com in a research note on Tuesday, December 3rd. Rosenblatt Securities raised their price objective on shares of Amazon.com from $236.00 to $287.00 and gave the company a “buy” rating in a research note on Friday. Finally, Truist Financial upped their target price on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.20.

Amazon.com Stock Performance

Shares of AMZN stock opened at $229.15 on Friday. The company’s fifty day moving average price is $226.51 and its 200-day moving average price is $200.30. The stock has a market cap of $2.41 trillion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 1.35 and a beta of 1.15. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.21. Amazon.com has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 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%. On average, equities analysts expect that Amazon.com will post 5.3 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $206.75, for a total transaction of $619,497,843.50. Following the completion of the sale, the insider now directly owns 914,420,614 shares of the company’s stock, valued at $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the transaction, the chief executive officer now directly owns 518,911 shares in the company, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,026,212 shares of company stock valued at $625,666,424. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMZN. Fiera Capital Corp raised its holdings in shares of Amazon.com by 12.5% during the 2nd quarter. Fiera Capital Corp now owns 401,113 shares of the e-commerce giant’s stock worth $77,515,000 after acquiring an additional 44,615 shares in the last quarter. Beam Wealth Advisors Inc. increased its position in Amazon.com by 138.6% in the second quarter. Beam Wealth Advisors Inc. now owns 12,503 shares of the e-commerce giant’s stock worth $2,416,000 after purchasing an additional 7,262 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Amazon.com by 21.1% in the second quarter. Daiwa Securities Group Inc. now owns 2,410,036 shares of the e-commerce giant’s stock worth $465,739,000 after purchasing an additional 419,503 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in Amazon.com by 0.4% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 62,907 shares of the e-commerce giant’s stock valued at $12,157,000 after purchasing an additional 252 shares in the last quarter. Finally, Redwood Financial Network Corp lifted its position in Amazon.com by 3.6% during the second quarter. Redwood Financial Network Corp now owns 10,091 shares of the e-commerce giant’s stock valued at $1,950,000 after purchasing an additional 349 shares during the last quarter. Hedge funds and other institutional investors 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.