Amazon.com (NASDAQ:AMZN) Shares Down 0.7% Following Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN) fell 0.7% during mid-day trading on Monday after Oppenheimer lowered their price target on the stock from $260.00 to $220.00. Oppenheimer currently has an outperform rating on the stock. Amazon.com traded as low as $187.54 and last traded at $187.71. 9,715,612 shares were traded during mid-day trading, a decline of 77% from the average session volume of 41,787,848 shares. The stock had previously closed at $188.99.

A number of other research analysts also recently issued reports on AMZN. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Amazon.com from $287.00 to $206.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Telsey Advisory Group decreased their price target on Amazon.com from $275.00 to $235.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Raymond James reissued an "outperform" rating and issued a $195.00 price objective (down from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Stifel Nicolaus decreased their target price on Amazon.com from $275.00 to $248.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Loop Capital boosted their price target on Amazon.com from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Two analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $246.73.

Insider Activity at Amazon.com

In other news, VP Shelley Reynolds sold 8,833 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,798 shares of company stock valued at $23,341,803. 10.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new stake in shares of Amazon.com during the fourth quarter worth about $25,000. Accordant Advisory Group Inc grew its holdings in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after buying an additional 100 shares in the last quarter. Prudent Man Investment Management Inc. purchased a new stake in Amazon.com during the 4th quarter valued at approximately $27,000. Icon Wealth Advisors LLC raised its position in shares of Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after buying an additional 25,581 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of Amazon.com during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Down 1.6 %

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 $1.97 trillion, a PE ratio of 33.66, a PEG ratio of 1.50 and a beta of 1.39. The company's 50 day moving average is $193.52 and its two-hundred day moving average is $208.05.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. On average, analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.