Amazon.com (NASDAQ:AMZN) Shares Down 1% After Insider Selling

Amazon.com, Inc. (NASDAQ:AMZN) shares dropped 1% on Friday after an insider sold shares in the company. The company traded as low as $189.16 and last traded at $189.16. Approximately 9,525,393 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 42,018,738 shares. The stock had previously closed at $191.16.

Specifically, SVP David Zapolsky sold 2,190 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMZN shares. JPMorgan Chase & Co. lowered their price target on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Truist Financial lifted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Amazon.com in a research report on Thursday, September 12th. Benchmark reissued a “buy” rating and set a $200.00 price target on shares of Amazon.com in a research report on Friday, August 2nd. Finally, Tigress Financial lifted their price objective on shares of Amazon.com from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $222.84.

Amazon.com Stock Down 1.0 %

The company has a market cap of $1.99 trillion, a PE ratio of 52.99, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The business has a fifty day simple moving average of $178.83 and a two-hundred day simple moving average of $182.48. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $148.63 billion. As a group, equities research analysts predict that Amazon.com, Inc. will post 4.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AMZN. Collective Family Office LLC raised its stake in Amazon.com by 9.7% during the first quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock worth $1,674,000 after purchasing an additional 819 shares during the period. Phillips Wealth Planners LLC raised its position in shares of Amazon.com by 9.2% during the 1st quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after buying an additional 224 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Amazon.com during the 4th quarter valued at approximately $5,926,000. Summa Corp. acquired a new position in Amazon.com in the fourth quarter valued at approximately $1,506,000. Finally, Concord Investment Counsel Inc. acquired a new stake in Amazon.com during the first quarter worth $20,790,000. 72.20% of the stock is owned by hedge funds and other institutional investors.

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.