Amazon.com (NASDAQ:AMZN) Stock Price Down 2.4% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was down 2.4% during trading on Tuesday . The stock traded as low as $189.38 and last traded at $191.13. Approximately 14,203,940 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 38,115,478 shares. The stock had previously closed at $195.74.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMZN shares. Citigroup reiterated a “buy” rating on shares of Amazon.com in a research report on Thursday, February 13th. Robert W. Baird raised their price target on shares of Amazon.com from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Loop Capital increased their target price on shares of Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus increased their price objective on Amazon.com from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $270.00 target price on shares of Amazon.com in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and a consensus target price of $260.65.

Amazon.com Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87. The company’s 50 day moving average price is $221.02 and its 200 day moving average price is $207.92. The firm has a market capitalization of $2.03 trillion, a P/E ratio of 34.66, a PEG ratio of 1.50 and a beta of 1.19.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, topping 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%. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $220.65, for a total value of $4,585,989.60. Following the transaction, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 19,212 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $217.50, for a total value of $4,178,610.00. Following the transaction, the senior vice president now owns 49,950 shares in the company, valued at approximately $10,864,125. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,298 shares of company stock valued at $22,871,828. 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. Castlekeep Investment Advisors LLC acquired a new stake in Amazon.com during the 4th quarter worth $25,000. Accordant Advisory Group Inc raised its holdings in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after buying an additional 100 shares during the period. Prudent Man Investment Management Inc. bought a new position in Amazon.com in the fourth quarter valued at approximately $27,000. Icon Wealth Advisors LLC boosted its holdings in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after buying an additional 25,581 shares during the period. Finally, LSV Asset Management acquired a new stake in shares of Amazon.com during the fourth quarter worth $35,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.