Amazon.com (NASDAQ:AMZN) Stock Price Down 1.2% on Insider Selling

Amazon.com, Inc. (NASDAQ:AMZN)’s share price dropped 1.2% on Wednesday following insider selling activity. The stock traded as low as $197.25 and last traded at $197.58. Approximately 15,537,365 shares were traded during mid-day 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 the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total value of $631,015.00. Following the transaction, the chief executive officer now directly owns 509,358 shares of the company’s stock, valued at approximately $91,832,153.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $180.29, for a total transaction of $631,015.00. Following the completion of the sale, the chief executive officer now owns 509,358 shares in the company, valued at approximately $91,832,153.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David Zapolsky sold 4,710 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $195.00, for a total value of $918,450.00. Following the completion of the transaction, the senior vice president now owns 59,500 shares in the company, valued at approximately $11,602,500. The disclosure for this sale can be found here. Insiders sold 69,548 shares of company stock worth $12,774,204 in the last quarter. 10.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on AMZN shares. Benchmark reissued a “buy” rating and issued a $200.00 price target on shares of Amazon.com in a research report on Wednesday, May 1st. Monness Crespi & Hardt raised their price target on Amazon.com from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Moffett Nathanson reiterated a “buy” rating and set a $228.00 price objective on shares of Amazon.com in a research note on Thursday, April 11th. Truist Financial lifted their target price on Amazon.com from $216.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Stifel Nicolaus raised their price objective on shares of Amazon.com from $224.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com has a consensus rating of “Buy” and an average target price of $215.86.

Amazon.com Trading Down 1.2 %

The stock has a 50-day moving average of $185.58 and a two-hundred day moving average of $174.31. The company has a market cap of $2.06 trillion, a P/E ratio of 55.35, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07.

Amazon.com (NASDAQ:AMZN) last posted its quarterly 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. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. The firm had revenue of $143.31 billion during the quarter, compared to analyst estimates of $142.65 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. Amazon.com’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that Amazon.com, Inc. will post 4.72 earnings per share for the current year.

Institutional Investors Weigh In On Amazon.com

A number of institutional investors have recently made changes to their positions in AMZN. Cooksen Wealth LLC bought a new position in shares of Amazon.com during the fourth quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Amazon.com by 45.0% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 277 shares of the e-commerce giant’s stock worth $42,000 after purchasing an additional 86 shares during the last quarter. Strid Group LLC purchased a new stake in Amazon.com during the 4th quarter valued at $43,000. Clarity Asset Management Inc. bought a new position in shares of Amazon.com during the 4th quarter valued at $46,000. Finally, Steph & Co. bought a new stake in shares of Amazon.com in the first quarter worth $65,000. 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.