Amazon.com (NASDAQ:AMZN) Stock Price Down 3.8% on Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 3.8% during mid-day trading on Friday after Citigroup lowered their price target on the stock from $275.00 to $273.00. Citigroup currently has a buy rating on the stock. Amazon.com traded as low as $228.50 and last traded at $229.84. Approximately 35,457,823 shares traded hands during trading, an increase of 4% from the average daily volume of 34,073,523 shares. The stock had previously closed at $238.83.

AMZN has been the subject of several other research reports. Wolfe Research lifted their price objective on Amazon.com from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their price objective on shares of Amazon.com from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday. DA Davidson upped their price objective on shares of Amazon.com from $235.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday. Scotiabank lifted their price objective on shares of Amazon.com from $246.00 to $306.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a report on Friday. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $260.20.

Insider Buying and Selling

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares in the company, valued at $4,958,982.72. This represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now owns 914,420,614 shares in the company, valued at approximately $189,056,461,944.50. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,026,212 shares of company stock worth $625,666,424. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Large investors have recently modified their holdings of the company. Accordant Advisory Group Inc lifted its stake in shares of Amazon.com by 400.0% in the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the period. Icon Wealth Advisors LLC lifted its stake in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock worth $28,000 after purchasing an additional 25,581 shares during the period. Hoese & Co LLP bought a new position in shares of Amazon.com in the 3rd quarter worth approximately $37,000. Bull Oak Capital LLC bought a new position in shares of Amazon.com in the 3rd quarter worth approximately $45,000. Finally, Quattro Financial Advisors LLC grew its position in shares of Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock valued at $51,000 after acquiring an additional 45 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Performance

The business’s 50-day moving average price is $226.51 and its 200-day moving average price is $200.30. 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 stock has a market cap of $2.41 trillion, a P/E ratio of 49.07, a P/E/G ratio of 1.35 and a beta of 1.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. As a group, sell-side analysts expect that Amazon.com, Inc. will post 5.3 earnings per share for the current fiscal year.

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.