Amazon.com (NASDAQ:AMZN) Shares Down 1.1% Following Analyst Downgrade

Shares of Amazon.com, Inc. (NASDAQ:AMZN) fell 1.1% during mid-day trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $232.00 to $225.00. Wells Fargo & Company currently has an overweight rating on the stock. Amazon.com traded as low as $172.34 and last traded at $173.55. 8,334,778 shares were traded during trading, a decline of 80% from the average session volume of 42,683,359 shares. The stock had previously closed at $175.50.

AMZN has been the topic of a number of other reports. Evercore ISI boosted their price objective on shares of Amazon.com from $220.00 to $225.00 and gave the company an "outperform" rating in a research report on Wednesday, May 1st. Morgan Stanley decreased their target price on shares of Amazon.com from $240.00 to $210.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. Telsey Advisory Group upped their price objective on shares of Amazon.com from $200.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, May 1st. Benchmark reaffirmed a "buy" rating and set a $200.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. Finally, JMP Securities reiterated a "market outperform" rating and set a $225.00 target price on shares of Amazon.com in a research note on Wednesday, July 31st. One research analyst has rated the stock with a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $221.36.

Insider Activity

In other news, CEO Douglas J. Herrington sold 3,500 shares of the firm's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the transaction, the chief executive officer now owns 523,253 shares of the company's stock, valued at approximately $92,767,524.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $177.29, for a total value of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at approximately $92,767,524.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total transaction of $3,757,123.68. Following the completion of the sale, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,107,817 shares of company stock valued at $1,221,241,837. 10.80% of the stock is currently owned by insiders.

Institutional Trading of Amazon.com

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in Amazon.com by 6.2% during the 4th quarter. International Assets Investment Management LLC now owns 157,070 shares of the e-commerce giant's stock worth $23,865,000 after buying an additional 9,108 shares during the period. Cherry Creek Investment Advisors Inc. raised its holdings in Amazon.com by 1.0% during the 4th quarter. Cherry Creek Investment Advisors Inc. now owns 62,278 shares of the e-commerce giant's stock worth $9,463,000 after buying an additional 616 shares during the period. Gruss & Co. LLC raised its holdings in Amazon.com by 114.3% during the 4th quarter. Gruss & Co. LLC now owns 4,500 shares of the e-commerce giant's stock worth $684,000 after buying an additional 2,400 shares during the period. Blossom Wealth Management raised its holdings in shares of Amazon.com by 30.2% in the fourth quarter. Blossom Wealth Management now owns 4,913 shares of the e-commerce giant's stock valued at $746,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Hendershot Investments Inc. raised its holdings in shares of Amazon.com by 6.4% in the fourth quarter. Hendershot Investments Inc. now owns 2,785 shares of the e-commerce giant's stock valued at $423,000 after purchasing an additional 167 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Amazon.com Stock Down 1.4 %

The company has a quick ratio of 0.87, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 48.49, a P/E/G ratio of 1.32 and a beta of 1.15. The stock's fifty day moving average price is $183.61 and its 200-day moving average price is $181.09.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.05 by $0.18. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. The company had revenue of $147.98 billion for the quarter, compared to the consensus estimate of $148.63 billion. On average, sell-side analysts predict that Amazon.com, Inc. will post 4.73 earnings per share for the current fiscal year.

Amazon.com Company Profile

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.