Amazon.com (NASDAQ:AMZN) Shares Down 0.3% on Analyst Downgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 0.3% during trading on Thursday after Cantor Fitzgerald lowered their price target on the stock from $270.00 to $230.00. Cantor Fitzgerald currently has an overweight rating on the stock. Amazon.com traded as low as $172.60 and last traded at $173.79. Approximately 12,873,552 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 41,579,330 shares. The stock had previously closed at $174.33.

AMZN has been the subject of a number of other research reports. Loop Capital boosted their price objective on shares of Amazon.com from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Telsey Advisory Group restated an "outperform" rating and issued a $275.00 price target on shares of Amazon.com in a research note on Friday, February 7th. Bank of America reduced their price objective on Amazon.com from $257.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Scotiabank lifted their target price on Amazon.com from $246.00 to $306.00 and gave the company a "sector outperform" rating in a research note on Friday, January 24th. Finally, DA Davidson decreased their price target on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $251.06.

Insiders Place Their Bets

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the transaction, the vice president now owns 119,780 shares of the company's stock, valued at $26,647,456.60. The trade was a 6.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now owns 509,474 shares in the company, valued at approximately $95,776,017.26. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,798 shares of company stock valued at $23,341,803 in the last quarter. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

Hedge funds have recently modified their holdings of the stock. Institute for Wealth Management LLC. grew its holdings in Amazon.com by 5.9% in the 1st quarter. Institute for Wealth Management LLC. now owns 96,706 shares of the e-commerce giant's stock valued at $18,399,000 after buying an additional 5,365 shares in the last quarter. Centennial Wealth Advisory LLC increased its position in Amazon.com by 9.5% during the first quarter. Centennial Wealth Advisory LLC now owns 6,433 shares of the e-commerce giant's stock worth $1,224,000 after acquiring an additional 556 shares during the period. Bigelow Investment Advisors LLC raised its stake in Amazon.com by 2.2% in the 1st quarter. Bigelow Investment Advisors LLC now owns 11,140 shares of the e-commerce giant's stock worth $2,119,000 after purchasing an additional 238 shares in the last quarter. Luken Investment Analytics LLC boosted its holdings in Amazon.com by 2.4% in the 1st quarter. Luken Investment Analytics LLC now owns 4,866 shares of the e-commerce giant's stock valued at $926,000 after purchasing an additional 116 shares during the period. Finally, Johnson Investment Counsel Inc. increased its holdings in shares of Amazon.com by 3.7% during the first quarter. Johnson Investment Counsel Inc. now owns 873,878 shares of the e-commerce giant's stock worth $166,264,000 after purchasing an additional 30,994 shares during the period. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Price Performance

The company's fifty day moving average price is $198.44 and its 200 day moving average price is $208.23. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.76 trillion, a P/E ratio of 30.01, a PEG ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, sell-side analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

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.