Amazon.com (NASDAQ:AMZN) Shares Down 1.6% – Here’s What Happened

Shares of Amazon.com, Inc. (NASDAQ:AMZN) fell 1.6% on Monday . The company traded as low as $221.50 and last traded at $222.54. 45,846,742 shares changed hands during trading, an increase of 2% from the average session volume of 44,913,258 shares. The stock had previously closed at $226.19.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMZN. CIBC upped their price target on shares of Amazon.com to $315.00 in a report on Monday, October 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $295.00 price target (up previously from $292.00) on shares of Amazon.com in a research report on Tuesday, December 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Amazon.com in a report on Wednesday, December 3rd. Telsey Advisory Group increased their target price on Amazon.com from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, Citigroup reiterated an “overweight” rating on shares of Amazon.com in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, fifty-six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average price target of $295.43.

Amazon.com Stock Performance

The company has a current ratio of 1.01, a quick ratio of 0.80 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average is $229.35 and its two-hundred day moving average is $225.01. The stock has a market capitalization of $2.38 trillion, a P/E ratio of 31.43, a P/E/G ratio of 1.56 and a beta of 1.37.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 30th. The e-commerce giant reported $1.95 EPS for the quarter, beating the consensus estimate of $1.57 by $0.38. The company had revenue of $180.17 billion for the quarter, compared to analyst estimates of $177.53 billion. Amazon.com had a net margin of 11.06% and a return on equity of 23.62%. Amazon.com’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 earnings per share. As a group, sell-side analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In other news, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $216.94, for a total value of $4,311,031.68. Following the completion of the transaction, the chief executive officer owned 2,208,310 shares of the company’s stock, valued at approximately $479,070,771.40. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Douglas J. Herrington sold 22,000 shares of Amazon.com stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $250.03, for a total transaction of $5,500,660.00. Following the sale, the chief executive officer owned 493,507 shares in the company, valued at approximately $123,391,555.21. This represents a 4.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,234 shares of company stock worth $19,076,767 in the last ninety days. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AMZN. Barlow Wealth Partners Inc. lifted its stake in Amazon.com by 0.4% during the second quarter. Barlow Wealth Partners Inc. now owns 12,565 shares of the e-commerce giant’s stock valued at $2,763,000 after buying an additional 44 shares in the last quarter. Ridgecrest Wealth Partners LLC raised its holdings in shares of Amazon.com by 0.5% during the second quarter. Ridgecrest Wealth Partners LLC now owns 8,399 shares of the e-commerce giant’s stock valued at $1,843,000 after acquiring an additional 45 shares during the period. Probity Advisors Inc. boosted its stake in Amazon.com by 0.4% in the 2nd quarter. Probity Advisors Inc. now owns 12,157 shares of the e-commerce giant’s stock worth $2,667,000 after purchasing an additional 45 shares during the period. IMPACTfolio LLC grew its position in Amazon.com by 3.8% during the 3rd quarter. IMPACTfolio LLC now owns 1,225 shares of the e-commerce giant’s stock worth $269,000 after purchasing an additional 45 shares in the last quarter. Finally, Cadence Wealth Management LLC grew its position in Amazon.com by 3.5% during the 3rd quarter. Cadence Wealth Management LLC now owns 1,328 shares of the e-commerce giant’s stock worth $292,000 after purchasing an additional 45 shares in 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.