Amazon.com (NASDAQ:AMZN) Trading Down 0.7% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price dropped 0.7% on Thursday . The company traded as low as $226.67 and last traded at $227.52. Approximately 4,480,364 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 41,111,176 shares. The stock had previously closed at $229.05.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Monness Crespi & Hardt raised their target price on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler lifted their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company restated an “equal weight” rating and set a $197.00 price objective on shares of Amazon.com in a research note on Wednesday, November 20th. Finally, Rosenblatt Securities lifted their target price on Amazon.com from $221.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.00.

Amazon.com Price Performance

The firm has a market cap of $2.35 trillion, a PE ratio of 47.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16. The stock has a 50 day simple moving average of $209.73 and a two-hundred day simple moving average of $192.81. 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 announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating 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 analysts’ expectations of $157.28 billion. During the same period last year, the business earned $0.85 earnings per share. Amazon.com’s quarterly revenue was up 11.0% on a year-over-year basis. Sell-side analysts expect that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Activity

In other news, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the sale, the director now directly owns 88,203 shares in the company, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $199.06, for a total value of $246,237.22. Following the completion of the transaction, the director now directly owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,032,344 shares of company stock valued at $1,253,456,822 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

Institutional investors have recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC grew its position in shares of Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after purchasing an additional 16,392 shares during the period. Umpqua Bank boosted its holdings in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in Amazon.com by 0.4% during the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock worth $41,972,000 after buying an additional 982 shares in the last quarter. BayBridge Capital Group LLC raised its holdings in shares of Amazon.com by 51.8% during the third quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares during the last quarter. Finally, Zhang Financial LLC lifted its position in shares of Amazon.com by 12.9% in the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after acquiring an additional 5,828 shares in the last quarter. Institutional investors and hedge funds 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.