Amazon.com (NASDAQ:AMZN) Stock Price Down 0.2% – Here’s What Happened

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 0.2% during trading on Wednesday . The company traded as low as $220.20 and last traded at $221.72. Approximately 6,393,471 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 25,475,348 shares. The stock had previously closed at $222.11.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wolfe Research raised their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Sanford C. Bernstein raised their price objective on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. TD Cowen raised their price objective on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Amazon.com from $250.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $243.67.

Amazon.com Price Performance

The company has a market capitalization of $2.30 trillion, a P/E ratio of 46.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.14. The company’s 50-day moving average price is $215.78 and its two-hundred day moving average price is $195.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings data on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.29. The company had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. Amazon.com had a net margin of 8.04% and a return on equity of 22.41%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 earnings per share. As a group, sell-side analysts expect that Amazon.com, Inc. will post 5.29 EPS for the current year.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now directly owns 917,416,976 shares in the company, valued at $191,602,535,437.60. This represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $229.85, for a total transaction of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares in the company, valued at approximately $20,273,459.55. The trade was a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC increased its stake in shares of Amazon.com by 9.7% in the 3rd quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after acquiring an additional 16,392 shares in the last quarter. Umpqua Bank increased its stake in shares of Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock valued at $6,544,000 after acquiring an additional 137 shares in the last quarter. Washington Trust Advisors Inc. increased its stake in shares of Amazon.com by 0.4% in the 3rd quarter. Washington Trust Advisors Inc. now owns 225,254 shares of the e-commerce giant’s stock valued at $41,972,000 after acquiring an additional 982 shares in the last quarter. BayBridge Capital Group LLC increased its stake in shares of Amazon.com by 51.8% in the 3rd quarter. BayBridge Capital Group LLC now owns 14,368 shares of the e-commerce giant’s stock valued at $2,677,000 after acquiring an additional 4,905 shares in the last quarter. Finally, Zhang Financial LLC grew its position in Amazon.com by 12.9% in the 3rd quarter. Zhang Financial LLC now owns 51,091 shares of the e-commerce giant’s stock valued at $9,520,000 after purchasing an additional 5,828 shares during the period. 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.