Amazon.com (NASDAQ:AMZN) Shares Down 0.7% – What’s Next?

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 0.7% during trading on Wednesday . The stock traded as low as $205.40 and last traded at $206.40. Approximately 8,925,855 shares were traded during trading, a decline of 78% from the average daily volume of 41,403,867 shares. The stock had previously closed at $207.86.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AMZN shares. Benchmark lifted their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Maxim Group lifted their price target 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. Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price objective on shares of Amazon.com in a research report on Monday, October 7th. Evercore ISI boosted their target price on Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Scotiabank upped their price target on Amazon.com from $245.00 to $246.00 and gave the stock a “sector outperform” 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, Amazon.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.20.

Amazon.com Stock Down 1.0 %

The company’s 50 day simple moving average is $194.46 and its 200-day simple moving average is $186.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The firm has a market capitalization of $2.16 trillion, a PE ratio of 44.06, a PEG ratio of 1.35 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. The company 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 firm’s revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 earnings per share. On average, analysts forecast that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In other Amazon.com news, CEO Matthew S. Garman sold 15,260 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $200.19, for a total transaction of $3,054,899.40. Following the sale, the chief executive officer now owns 349,261 shares in the company, valued at $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 owns 24,912 shares of the company’s stock, valued at $4,958,982.72. The trade was a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,026,683 shares of company stock worth $1,252,148,795. 10.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Amazon.com

A number of large investors have recently modified their holdings of AMZN. Foundations Investment Advisors LLC boosted its stake in shares of Amazon.com by 9.7% in the 3rd 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 in the last quarter. Zhang Financial LLC boosted its position in Amazon.com by 12.9% during the third quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after buying an additional 5,828 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Amazon.com by 0.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,847,177 shares of the e-commerce giant’s stock valued at $550,217,000 after buying an additional 14,766 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Amazon.com by 19.2% in the third quarter. GAMMA Investing LLC now owns 119,205 shares of the e-commerce giant’s stock worth $22,211,000 after buying an additional 19,231 shares during the period. Finally, Stonekeep Investments LLC bought a new stake in shares of Amazon.com in the 2nd quarter valued at about $2,588,000. 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.