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

Amazon.com, Inc. (NASDAQ:AMZN) shares 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 mid-day trading, a decline of 82% from the average session volume of 41,448,922 shares. The stock had previously closed at $198.38.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent research reports. Monness Crespi & Hardt boosted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen upped their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $236.00 price target (up previously from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Scotiabank increased their price objective on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC lifted their target price on Amazon.com from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, forty have given 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 an average target price of $235.77.

Amazon.com Stock Performance

The business has a 50 day moving average of $193.00 and a 200-day moving average of $186.31. 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 market capitalization of $2.07 trillion, a P/E ratio of 42.21, a price-to-earnings-growth ratio of 1.33 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to analysts’ expectations of $157.28 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that Amazon.com, Inc. will post 5.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, CEO Douglas J. Herrington sold 5,502 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the sale, the chief executive officer now owns 518,911 shares of the company’s stock, valued at $106,797,072.91. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction dated 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 directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,011,423 shares of company stock worth $1,249,093,896 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Amazon.com

Several institutional investors and hedge funds have recently made changes to their positions in AMZN. Icon Wealth Advisors LLC lifted its stake in Amazon.com by 20.5% during the third 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 last quarter. PayPay Securities Corp lifted its position in Amazon.com by 64.6% in the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock worth $32,000 after buying an additional 64 shares during the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com in the third quarter worth approximately $37,000. Bull Oak Capital LLC bought a new position in Amazon.com during the third quarter valued at approximately $45,000. Finally, Values First Advisors Inc. purchased a new position in shares of Amazon.com during the third quarter worth approximately $56,000. Hedge funds and other institutional investors 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.