Amazon.com (NASDAQ:AMZN) Trading Down 0.2% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN) shares fell 0.2% on Wednesday . The stock traded as low as $220.20 and last traded at $221.72. 6,393,471 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 25,475,348 shares. The stock had previously closed at $222.11.

Analyst Ratings Changes

A number of equities analysts recently commented on AMZN shares. Robert W. Baird boosted their price objective on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Stifel Nicolaus upped their price objective on Amazon.com from $224.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Truist Financial lifted their price target on shares of Amazon.com from $265.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Bank of America upped their target price on Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.67.

Amazon.com Trading Up 0.0 %

The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm has a market cap of $2.34 trillion, a PE ratio of 47.57, a P/E/G ratio of 1.54 and a beta of 1.14. The company’s fifty day moving average price is $214.48 and its two-hundred day moving average price is $194.73.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings data 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 firm had revenue of $158.88 billion during the quarter, compared to analysts’ expectations of $157.28 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. Amazon.com’s revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $208.85, for a total value of $625,790,203.70. Following the completion of the transaction, the insider now owns 917,416,976 shares of the company’s stock, valued at $191,602,535,437.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $200.19, for a total value of $3,054,899.40. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 6,032,344 shares of company stock worth $1,253,456,822 in the last quarter. Company insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its stake in Amazon.com by 3.3% during the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock worth $66,926,008,000 after buying an additional 11,370,309 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 6,545,944 shares in the last quarter. Legal & General Group Plc increased its position in shares of Amazon.com by 1.5% during the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock worth $13,466,933,000 after acquiring an additional 1,042,177 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Amazon.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock worth $13,091,909,000 after acquiring an additional 289,532 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Amazon.com by 3.6% in the third 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 valued at $10,776,201,000 after purchasing an additional 1,984,592 shares during the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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.