Piper Sandler Cuts Amazon.com (NASDAQ:AMZN) Price Target to $215.00

Amazon.com (NASDAQ:AMZN) had its price target decreased by equities researchers at Piper Sandler from $220.00 to $215.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the e-commerce giant’s stock. Piper Sandler’s price objective suggests a potential upside of 16.80% from the company’s current price.

Several other brokerages have also issued reports on AMZN. The Goldman Sachs Group lifted their price target on Amazon.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Argus boosted their target price on Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Oppenheimer increased their price target on shares of Amazon.com from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Benchmark restated a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a report on Tuesday, July 16th. Finally, Bank of America increased their target price on shares of Amazon.com from $210.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, forty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.67.

Amazon.com Trading Down 1.6 %

Shares of AMZN opened at $184.07 on Friday. Amazon.com has a 1-year low of $118.35 and a 1-year high of $201.20. The company has a market capitalization of $1.92 trillion, a P/E ratio of 51.56, a P/E/G ratio of 1.34 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. The firm’s 50 day simple moving average is $187.38 and its 200 day simple moving average is $179.45.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 6.38% and a return on equity of 19.86%. The firm had revenue of $147.98 billion for the quarter, compared to analyst estimates of $148.63 billion. Sell-side analysts forecast that Amazon.com will post 4.73 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith Brian Alexander sold 1,000 shares of Amazon.com stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $186.22, for a total transaction of $186,220.00. Following the completion of the sale, the director now owns 4,760 shares in the company, valued at approximately $886,407.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amazon.com news, VP Shelley Reynolds sold 2,700 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $181.39, for a total transaction of $489,753.00. Following the completion of the sale, the vice president now owns 119,780 shares in the company, valued at $21,726,894.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Keith Brian Alexander sold 1,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $186.22, for a total value of $186,220.00. Following the sale, the director now owns 4,760 shares of the company’s stock, valued at $886,407.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,109,490 shares of company stock valued at $1,221,619,033. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently added to or reduced their stakes in AMZN. Norges Bank purchased a new stake in Amazon.com during the fourth quarter valued at approximately $17,700,551,000. International Assets Investment Management LLC boosted its position in shares of Amazon.com by 16,029.3% in the 4th quarter. International Assets Investment Management LLC now owns 23,865,216 shares of the e-commerce giant’s stock worth $36,260,810,000 after purchasing an additional 23,717,254 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 buying an additional 14,724,687 shares during the last quarter. Swedbank AB acquired a new position in Amazon.com during the 1st quarter valued at about $2,239,757,000. Finally, Capital World Investors raised its stake in Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after buying an additional 11,524,463 shares during the last quarter. 72.20% of the stock is currently owned by 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.