Amazon.com, Inc. (AMZN) Downgraded to “Market Perform” at Wolfe Research

Wolfe Research cut shares of Amazon.com, Inc. (NASDAQ:AMZN) from an outperform rating to a market perform rating in a report published on Thursday.

A number of other brokerages have also weighed in on AMZN. Robert W. Baird reissued an outperform rating and set a $850.00 price objective on shares of Amazon.com in a report on Thursday, April 6th. Vetr raised shares of Amazon.com from a sell rating to a hold rating and set a $882.95 price objective on the stock in a report on Tuesday, April 4th. Loop Capital reissued a buy rating and set a $1,100.00 price objective on shares of Amazon.com in a report on Wednesday. Cantor Fitzgerald reissued an overweight rating on shares of Amazon.com in a report on Monday, April 10th. Finally, Piper Jaffray Companies dropped their price objective on shares of Amazon.com from $1,000.00 to $900.00 and set an overweight rating on the stock in a report on Tuesday, April 11th. Five investment analysts have rated the stock with a hold rating and forty-eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $961.29.

Amazon.com (NASDAQ:AMZN) traded down 0.40% during mid-day trading on Thursday, hitting $898.47. The company had a trading volume of 1,626,484 shares. The firm has a market capitalization of $428.72 billion, a PE ratio of 183.36 and a beta of 1.40. The company has a 50 day moving average of $871.22 and a 200 day moving average of $817.02. Amazon.com has a 1-year low of $599.20 and a 1-year high of $923.72.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings data on Thursday, February 2nd. The e-commerce giant reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.19. The firm had revenue of $43.74 billion for the quarter, compared to analyst estimates of $44.66 billion. Amazon.com had a net margin of 1.74% and a return on equity of 13.87%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. Analysts predict that Amazon.com will post $7.24 earnings per share for the current fiscal year.

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In other Amazon.com news, insider David Zapolsky sold 503 shares of the firm’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $850.00, for a total transaction of $427,550.00. Following the transaction, the insider now directly owns 2,523 shares of the company’s stock, valued at approximately $2,144,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tom A. Alberg sold 590 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $850.00, for a total transaction of $501,500.00. Following the transaction, the director now directly owns 22,525 shares in the company, valued at $19,146,250. The disclosure for this sale can be found here. Company insiders own 17.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AMZN. Diversified Trust Co increased its position in shares of Amazon.com by 1.3% in the first quarter. Diversified Trust Co now owns 1,217 shares of the e-commerce giant’s stock valued at $1,079,000 after buying an additional 16 shares during the last quarter. Wagner Bowman Management Corp increased its position in shares of Amazon.com by 4.2% in the first quarter. Wagner Bowman Management Corp now owns 773 shares of the e-commerce giant’s stock valued at $685,000 after buying an additional 31 shares during the last quarter. Abner Herrman & Brock LLC increased its position in shares of Amazon.com by 2.7% in the first quarter. Abner Herrman & Brock LLC now owns 2,030 shares of the e-commerce giant’s stock valued at $1,800,000 after buying an additional 53 shares during the last quarter. Cape Cod Five Cents Savings Bank increased its position in shares of Amazon.com by 10.9% in the first quarter. Cape Cod Five Cents Savings Bank now owns 680 shares of the e-commerce giant’s stock valued at $603,000 after buying an additional 67 shares during the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Amazon.com by 6.5% in the first quarter. Douglas Lane & Associates LLC now owns 1,497 shares of the e-commerce giant’s stock valued at $1,327,000 after buying an additional 91 shares during the last quarter. 65.08% of the stock is currently owned by institutional investors.

Amazon.com Company Profile

Amazon.com, Inc offers a range of products and services through its Websites. The Company operates through three segments: North America, International and Amazon Web Services (AWS). The North America segment consists of retail sales of consumer products (including from sellers) and subscriptions through North America-focused Websites, such as www.amazon.com, www.amazon.ca and www.amazon.com.mx.

5 Day Chart for NASDAQ:AMZN

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