Amazon.com (NASDAQ:AMZN) Downgraded to "Equal Weight" at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Amazon.com (NASDAQ:AMZN) from an overweight rating to an equal weight rating in a research note released on Monday, MarketBeat.com reports. The brokerage currently has $183.00 price target on the e-commerce giant's stock, down from their prior price target of $225.00.

Other analysts have also issued reports about the company. Stifel Nicolaus dropped their price objective on Amazon.com from $228.00 to $224.00 and set a buy rating on the stock in a report on Friday, August 2nd. Evercore ISI increased their price objective on shares of Amazon.com from $225.00 to $240.00 and gave the company an outperform rating in a report on Friday, September 20th. Morgan Stanley restated an overweight rating and set a $210.00 price target on shares of Amazon.com in a research report on Thursday. Needham & Company LLC reiterated a buy rating and set a $210.00 price objective on shares of Amazon.com in a research note on Thursday, September 12th. Finally, Benchmark restated a buy rating and issued a $200.00 target price on shares of Amazon.com in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, forty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $222.67.

Amazon.com Stock Performance

Shares of AMZN stock traded down $5.71 on Monday, hitting $180.80. The company had a trading volume of 42,065,555 shares, compared to its average volume of 41,975,641. Amazon.com has a twelve month low of $118.35 and a twelve month high of $201.20. The firm has a market cap of $1.88 trillion, a P/E ratio of 50.65, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. The company has a 50-day moving average price of $179.17 and a 200-day moving average price of $182.99. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 21.39%. The firm had revenue of $147.98 billion during the quarter, compared to analysts' expectations of $148.63 billion. As a group, equities research analysts predict that Amazon.com will post 4.86 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Shelley Reynolds sold 3,791 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company's stock, valued at $21,989,299.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Shelley Reynolds sold 3,791 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now directly owns 121,461 shares of the company's stock, valued at $21,989,299.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey P. Bezos sold 266,396 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $200.01, for a total value of $53,281,863.96. Following the completion of the sale, the insider now directly owns 928,433,873 shares in the company, valued at $185,696,058,938.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 320,751 shares of company stock valued at $63,159,286. 10.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMZN. Wilkins Investment Counsel Inc. increased its holdings in shares of Amazon.com by 32.7% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 4,875 shares of the e-commerce giant's stock valued at $741,000 after acquiring an additional 1,200 shares during the last quarter. RS Crum Inc. purchased a new stake in shares of Amazon.com during the 4th quarter worth approximately $213,000. Elevatus Welath Management boosted its holdings in shares of Amazon.com by 29.3% in the 4th quarter. Elevatus Welath Management now owns 52,749 shares of the e-commerce giant's stock valued at $8,015,000 after buying an additional 11,954 shares in the last quarter. Legacy Advisors LLC boosted its holdings in shares of Amazon.com by 13.6% in the 4th quarter. Legacy Advisors LLC now owns 70,407 shares of the e-commerce giant's stock valued at $10,698,000 after buying an additional 8,436 shares in the last quarter. Finally, Olistico Wealth LLC grew its position in shares of Amazon.com by 4.3% in the 4th quarter. Olistico Wealth LLC now owns 29,759 shares of the e-commerce giant's stock valued at $4,522,000 after buying an additional 1,240 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company's stock.

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.