Amazon.com (NASDAQ:AMZN) Shares Down 0.9% on Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)'s share price fell 0.9% on Wednesday 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 $175.59 and last traded at $178.05. 10,189,063 shares traded hands during trading, a decline of 75% from the average session volume of 41,492,534 shares. The stock had previously closed at $179.59.

Several other research firms have also weighed in on AMZN. Loop Capital boosted their target price on shares of Amazon.com from $275.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Phillip Securities lowered Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 10th. Mizuho reduced their target price on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wedbush reaffirmed an "outperform" rating and set a $280.00 price objective on shares of Amazon.com in a research report on Friday, February 7th. Finally, Raymond James boosted their target price on Amazon.com from $260.00 to $275.00 in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, forty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $252.73.

Insider Activity at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the transaction, the chief executive officer now directly owns 509,474 shares of the company's stock, valued at $95,776,017.26. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Shelley Reynolds sold 8,833 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the transaction, the vice president now directly owns 119,780 shares in the company, valued at approximately $26,647,456.60. This represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Amazon.com

A number of large investors have recently modified their holdings of AMZN. Rench Wealth Management Inc. grew its stake in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant's stock valued at $9,392,000 after purchasing an additional 3,703 shares in the last quarter. Blankinship & Foster LLC grew its position in shares of Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant's stock worth $1,291,000 after buying an additional 4,740 shares in the last quarter. One Wealth Capital Management LLC bought a new stake in shares of Amazon.com in the fourth quarter worth $4,270,000. Floyd Financial Group LLC acquired a new stake in Amazon.com in the fourth quarter valued at $4,494,000. Finally, Patton Albertson Miller Group LLC grew its holdings in Amazon.com by 2.7% during the 4th quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant's stock worth $4,122,000 after acquiring an additional 495 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Amazon.com Price Performance

The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The company's 50-day moving average price is $198.44 and its two-hundred day moving average price is $208.04. The company has a market cap of $1.83 trillion, a P/E ratio of 31.19, a P/E/G ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating 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 expect 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.