Amazon.com (NASDAQ:AMZN) Stock Price Down 3.2% – Here’s Why

Shares of Amazon.com, Inc. (NASDAQ:AMZN) dropped 3.2% during trading on Monday . The company traded as low as $165.85 and last traded at $167.07. Approximately 14,300,939 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 41,627,236 shares. The stock had previously closed at $172.61.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wolfe Research boosted their price objective on shares of Amazon.com from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Mizuho cut their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price target on Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Phillip Securities cut shares of Amazon.com from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Amazon.com from $287.00 to $206.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Amazon.com currently has an average rating of “Moderate Buy” and a consensus price target of $251.06.

Amazon.com Trading Down 4.0 %

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 stock has a market cap of $1.76 trillion, a P/E ratio of 29.96, a PEG ratio of 1.50 and a beta of 1.39. The firm’s fifty day moving average price is $198.44 and its two-hundred day moving average price is $208.23.

Amazon.com (NASDAQ:AMZN) last released its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share for the quarter, beating the consensus estimate 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, equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current year.

Insider Transactions at Amazon.com

In other Amazon.com news, VP Shelley Reynolds sold 8,833 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now directly owns 119,780 shares in the company, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total value of $6,332,425.00. Following the sale, the chief executive officer now owns 497,067 shares of the company’s stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,798 shares of company stock valued at $23,341,803. Insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

Institutional investors have recently made changes to their positions in the stock. Rench Wealth Management Inc. increased its holdings in Amazon.com by 7.9% during the 3rd quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock valued at $9,392,000 after purchasing an additional 3,703 shares during the period. Blankinship & Foster LLC lifted its stake in Amazon.com by 216.4% in the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock worth $1,291,000 after acquiring an additional 4,740 shares during the period. One Wealth Capital Management LLC purchased a new position in Amazon.com during the 4th quarter valued at $4,270,000. Floyd Financial Group LLC bought a new stake in shares of Amazon.com during the 4th quarter valued at about $4,494,000. Finally, Patton Albertson Miller Group LLC increased its position in shares of Amazon.com by 2.7% during the fourth quarter. Patton Albertson Miller Group LLC now owns 18,790 shares of the e-commerce giant’s stock valued at $4,122,000 after buying an additional 495 shares during the period. Hedge funds and other institutional investors own 72.20% of the company’s stock.

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.