Amazon.com (NASDAQ:AMZN) Shares Down 1.2% Following Insider Selling

Amazon.com, Inc. (NASDAQ:AMZN) shares dropped 1.2% on Wednesday following insider selling activity. The company traded as low as $197.25 and last traded at $197.58. Approximately 15,537,365 shares changed hands during trading, a decline of 64% from the average daily volume of 42,716,266 shares. The stock had previously closed at $200.00.

Specifically, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com 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 completion of the sale, 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 legal filing with the SEC, which is available at the SEC website. In related news, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $181.38, for a total value of $90,690.00. Following the transaction, the chief executive officer now directly owns 130,600 shares in the company, valued at approximately $23,688,228. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction 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 of the company’s stock, valued at approximately $92,767,524.37. The disclosure for this sale can be found here. Insiders have sold a total of 69,548 shares of company stock valued at $12,774,204 over the last ninety days. 10.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMZN. Benchmark reissued a “buy” rating and set a $200.00 target price on shares of Amazon.com in a research report on Wednesday, May 1st. Moffett Nathanson reissued a “buy” rating and issued a $228.00 price objective on shares of Amazon.com in a research note on Thursday, April 11th. Citigroup lifted their target price on Amazon.com from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Needham & Company LLC reissued a “buy” rating and issued a $205.00 price target on shares of Amazon.com in a research report on Monday. Finally, Piper Sandler raised their price objective on Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Amazon.com has a consensus rating of “Buy” and a consensus price target of $215.86.

Amazon.com Stock Performance

The business’s fifty day moving average price is $185.10 and its 200-day moving average price is $174.15. The stock has a market capitalization of $2.06 trillion, a PE ratio of 55.35, a P/E/G ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $143.31 billion for the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. As a group, equities research analysts expect that Amazon.com, Inc. will post 4.72 EPS for the current year.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Garrison Point Advisors LLC grew its holdings in shares of Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its stake in Amazon.com by 0.7% in the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after buying an additional 56 shares in the last quarter. Stordahl Capital Management Inc. grew its stake in Amazon.com by 2.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after buying an additional 56 shares in the last quarter. Lutz Financial Services LLC increased its holdings in shares of Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after buying an additional 57 shares during the last quarter. Finally, O Dell Group LLC lifted its holdings in shares of Amazon.com by 0.4% during the 1st quarter. O Dell Group LLC now owns 13,638 shares of the e-commerce giant’s stock worth $2,460,000 after acquiring an additional 57 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

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.