Amazon.com (NASDAQ:AMZN) Shares Down 0.6%

Amazon.com, Inc. (NASDAQ:AMZN)’s share price dropped 0.6% during mid-day trading on Friday . The company traded as low as $188.63 and last traded at $188.82. Approximately 12,599,724 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 41,861,078 shares. The stock had previously closed at $189.87.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AMZN shares. Barclays boosted their price objective on shares of Amazon.com from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Amazon.com from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Truist Financial increased their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley reduced their price target on shares of Amazon.com from $240.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, forty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $222.84.

Amazon.com Stock Performance

The firm’s 50-day moving average price is $178.60 and its two-hundred day moving average price is $181.88. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.97 trillion, a PE ratio of 52.89, a P/E/G ratio of 1.39 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings data 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 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion during the quarter, compared to analyst estimates of $148.63 billion. As a group, research analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP David Zapolsky sold 4,710 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $195.00, for a total value of $918,450.00. Following the completion of the sale, the senior vice president now directly owns 59,500 shares of the company’s stock, valued at approximately $11,602,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 4,710 shares of the business’s stock in a transaction dated 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. Over the last quarter, insiders have sold 6,104,317 shares of company stock worth $1,220,621,322. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZN. Garrison Point Advisors LLC grew its position in Amazon.com by 0.3% in the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after acquiring an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. boosted its holdings in Amazon.com by 1.8% in the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC boosted its holdings in Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after purchasing an additional 56 shares in the last quarter. Stordahl Capital Management Inc. raised its holdings in Amazon.com by 2.1% during the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 56 shares in the last quarter. Finally, Lutz Financial Services LLC lifted its position in shares of Amazon.com by 1.9% in the first 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. 72.20% of the stock is 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.