Amazon.com (NASDAQ:AMZN) Stock Price Down 2.3% – Should You Sell?

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 2.3% during mid-day trading on Friday . The stock traded as low as $220.90 and last traded at $221.83. Approximately 7,786,632 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 41,022,664 shares. The stock had previously closed at $227.05.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMZN shares. Sanford C. Bernstein boosted their price objective on Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and set a $285.00 price objective on shares of Amazon.com in a report on Monday, December 16th. Tigress Financial raised their price objective on shares of Amazon.com from $245.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Roth Mkm boosted their target price on shares of Amazon.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price target on shares of Amazon.com in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Stock Down 1.5 %

The stock’s 50 day moving average is $209.73 and its 200 day moving average is $192.85. The company has a market capitalization of $2.35 trillion, a PE ratio of 47.91, a PEG ratio of 1.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09.

Amazon.com (NASDAQ:AMZN) last posted its 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. The firm had revenue of $158.88 billion for the quarter, compared to the consensus estimate of $157.28 billion. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. On average, sell-side analysts anticipate that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan Rubinstein sold 5,004 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $199.85, for a total transaction of $1,000,049.40. Following the completion of the transaction, the director now directly owns 99,396 shares of the company’s stock, valued at approximately $19,864,290.60. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of Amazon.com by 3.3% during the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after purchasing an additional 11,370,309 shares in the last quarter. Geode Capital Management LLC lifted its position in Amazon.com by 3.4% during the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after purchasing an additional 6,545,944 shares during the last quarter. Legal & General Group Plc grew its stake in Amazon.com by 1.5% in the 2nd quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after buying an additional 1,042,177 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Amazon.com by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after buying an additional 289,532 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Amazon.com by 3.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock worth $10,776,201,000 after acquiring an additional 1,984,592 shares during the last quarter. 72.20% of the stock is currently owned by 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.