Scotiabank Has Lowered Expectations for Amazon.com (NASDAQ:AMZN) Stock Price

Amazon.com (NASDAQ:AMZN) had its target price reduced by investment analysts at Scotiabank from $306.00 to $250.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "sector outperform" rating on the e-commerce giant's stock. Scotiabank's price target would indicate a potential upside of 36.19% from the stock's previous close.

A number of other research analysts also recently issued reports on AMZN. Phillip Securities downgraded shares of Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 10th. Royal Bank of Canada raised their price target on shares of Amazon.com from $255.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Truist Financial dropped their target price on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Benchmark increased their target price on shares of Amazon.com from $215.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Barclays increased their price target on shares of Amazon.com from $235.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and forty-five have given a buy rating to the company. Based on data from MarketBeat.com, Amazon.com presently has an average rating of "Moderate Buy" and an average target price of $247.56.

Amazon.com Stock Up 1.6 %

Shares of AMZN traded up $2.96 during midday trading on Monday, reaching $183.56. 7,395,336 shares of the stock were exchanged, compared to its average volume of 41,803,360. 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 cap of $1.95 trillion, a price-to-earnings ratio of 33.16, a P/E/G ratio of 1.50 and a beta of 1.39. The firm has a 50 day simple moving average of $195.11 and a 200-day simple moving average of $207.66. Amazon.com has a 12-month low of $151.61 and a 12-month high of $242.52.

Amazon.com (NASDAQ:AMZN - Get Free Report) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. Research analysts forecast that Amazon.com will post 6.31 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the sale, the chief executive officer now directly owns 497,067 shares of the company's stock, valued at approximately $114,459,618.09. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian T. Olsavsky sold 14,620 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $223.14, for a total value of $3,262,306.80. Following the sale, the chief financial officer now directly owns 49,000 shares of the company's stock, valued at $10,933,860. The trade was a 22.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,798 shares of company stock worth $23,341,803. Corporate insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Prudent Man Investment Management Inc. purchased a new stake in shares of Amazon.com during the fourth quarter valued at approximately $27,000. Accordant Advisory Group Inc lifted its position in Amazon.com by 400.0% during the fourth 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 during the period. LSV Asset Management bought a new position in shares of Amazon.com during the fourth quarter valued at $35,000. Perritt Capital Management Inc lifted its position in Amazon.com by 72.7% during the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares during the period. Finally, Inlight Wealth Management LLC bought a new position in Amazon.com during the first quarter valued at approximately $40,000. 72.20% of the stock is currently owned by institutional investors.

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.