Amazon.com (NASDAQ:AMZN) Stock Price Down 0.7% - Here's What Happened

Amazon.com, Inc. (NASDAQ:AMZN)'s share price 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 changed hands 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

AMZN has been the subject of several analyst reports. Robert W. Baird upped their price target on Amazon.com from $213.00 to $220.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. UBS Group upped their price target on Amazon.com from $220.00 to $223.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Scotiabank upped their price objective on Amazon.com from $245.00 to $246.00 and gave the stock a "sector outperform" rating in a report on Friday, November 1st. Moffett Nathanson upped their price objective on Amazon.com from $235.00 to $248.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Barclays upped their price objective on Amazon.com from $220.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $236.20.

Amazon.com Price Performance

The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 44.33, a P/E/G ratio of 1.35 and a beta of 1.14. 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 business has a 50 day moving average price of $193.75 and a 200-day moving average price of $186.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business earned $0.85 EPS. Research analysts predict that Amazon.com, Inc. will post 5.29 EPS for the current fiscal year.

Insider Activity

In related news, CEO Douglas J. Herrington sold 5,502 shares of the company's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $205.81, for a total transaction of $1,132,366.62. Following the transaction, the chief executive officer now directly owns 518,911 shares of the company's stock, valued at approximately $106,797,072.91. This represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew S. Garman sold 15,260 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 349,261 shares in the company, valued at approximately $69,918,559.59. This trade represents a 4.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,026,683 shares of company stock valued at $1,252,148,795 in the last ninety days. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Several institutional investors and hedge funds have recently bought and sold shares of the company. Semus Wealth Partners LLC lifted its position in Amazon.com by 0.3% in the third quarter. Semus Wealth Partners LLC now owns 17,920 shares of the e-commerce giant's stock valued at $3,339,000 after purchasing an additional 49 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in Amazon.com by 1.5% in the 3rd quarter. Bell Investment Advisors Inc now owns 3,359 shares of the e-commerce giant's stock worth $626,000 after buying an additional 51 shares during the period. Garrison Point Advisors LLC grew its position in shares of Amazon.com by 0.3% in the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant's stock worth $3,675,000 after buying an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. increased its stake in shares of Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant's stock valued at $594,000 after buying an additional 55 shares during the period. Finally, O Connor Financial Group LLC increased its stake in shares of Amazon.com by 2.2% during the third quarter. O Connor Financial Group LLC now owns 2,536 shares of the e-commerce giant's stock valued at $473,000 after buying an additional 55 shares during the period. 72.20% of the stock is owned by 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.

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