Amazon.com (NASDAQ:AMZN) Shares Down 1% – What’s Next?

Amazon.com, Inc. (NASDAQ:AMZN)’s share price dropped 1% during mid-day trading on Thursday . The company traded as low as $205.05 and last traded at $205.74. Approximately 28,061,638 shares traded hands during trading, a decline of 32% from the average daily volume of 41,492,559 shares. The stock had previously closed at $207.86.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen raised their price target on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 target price on the stock. in a research note on Friday, August 2nd. Robert W. Baird increased their price target on Amazon.com from $213.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Maxim Group lifted their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.20.

Amazon.com Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 44.52, a PEG ratio of 1.38 and a beta of 1.14. The stock’s fifty day moving average is $194.78 and its 200-day moving average is $186.94.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the prior year, the company posted $0.85 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Activity

In related news, CEO Matthew S. Garman sold 15,260 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the transaction, the chief executive officer now owns 349,261 shares of the company’s stock, valued at approximately $69,918,559.59. The trade was a 4.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 5,502 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the completion of the sale, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,026,683 shares of company stock valued at $1,252,148,795 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC increased its holdings in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the period. PayPay Securities Corp boosted its position in shares of Amazon.com by 64.6% during the 2nd quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after acquiring an additional 64 shares in the last quarter. Hoese & Co LLP bought a new stake in Amazon.com in the third quarter valued at about $37,000. Bull Oak Capital LLC acquired a new position in Amazon.com in the third quarter worth about $45,000. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the third quarter worth about $56,000. 72.20% of the stock is currently owned by 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.