Scotiabank Cuts Amazon.com (NASDAQ:AMZN) Price Target to $250.00

Amazon.com (NASDAQ:AMZN) had its target price decreased by Scotiabank from $306.00 to $250.00 in a research report sent to investors on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the e-commerce giant’s stock.

A number of other brokerages have also issued reports on AMZN. Telsey Advisory Group restated an “outperform” rating and set a $275.00 target price on shares of Amazon.com in a research report on Friday, February 7th. Citigroup lowered their price target on Amazon.com from $273.00 to $225.00 and set a “buy” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group raised their price objective on Amazon.com from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Loop Capital upped their price target on shares of Amazon.com from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Finally, Oppenheimer lifted their price target on shares of Amazon.com from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amazon.com presently has a consensus rating of “Moderate Buy” and an average price target of $247.56.

Amazon.com Trading Up 4.4 %

Shares of NASDAQ AMZN opened at $180.84 on Monday. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 1.50 and a beta of 1.39. 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’s fifty day moving average is $195.11 and its 200-day moving average is $207.66. Amazon.com has a twelve month low of $151.61 and a twelve month high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 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%. Equities research analysts predict that Amazon.com will post 6.31 EPS for the current year.

Insider Transactions at Amazon.com

In other news, VP Shelley Reynolds sold 8,833 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the transaction, the vice president now directly owns 119,780 shares of the company’s stock, valued at $26,647,456.60. The trade was a 6.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas J. Herrington sold 2,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares in the company, valued at approximately $95,776,017.26. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 104,798 shares of company stock valued at $23,341,803. Company insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. Norges Bank acquired a new stake in Amazon.com during the 4th quarter worth approximately $27,266,582,000. GAMMA Investing LLC boosted its holdings in shares of Amazon.com by 21,420.5% in the 1st quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors increased its position in Amazon.com by 36.8% during the 4th quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock worth $14,416,078,000 after purchasing an additional 17,681,004 shares in the last quarter. Vanguard Group Inc. increased its holdings in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after acquiring an additional 12,018,120 shares during the last quarter. Institutional investors and hedge funds 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.