Amazon.com (NASDAQ:AMZN) Shares Down 1.4% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN) traded down 1.4% during mid-day trading on Tuesday . The company traded as low as $206.64 and last traded at $207.24. 34,437,939 shares changed hands during trading, a decline of 33% from the average session volume of 51,127,375 shares. The stock had previously closed at $210.14.

Amazon.com News Summary

Here are the key news stories impacting Amazon.com this week:

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. DZ Bank raised Amazon.com to a “strong-buy” rating in a research report on Friday, February 6th. Oppenheimer set a $260.00 target price on Amazon.com and gave the stock an “outperform” rating in a research note on Friday, February 6th. Wells Fargo & Company set a $304.00 target price on Amazon.com and gave the stock an “overweight” rating in a report on Monday, February 23rd. The Goldman Sachs Group lifted their price target on Amazon.com from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Amazon.com in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifty-three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $286.66.

Read Our Latest Stock Report on Amazon.com

Amazon.com Stock Performance

The company has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 1.55 and a beta of 1.40. The firm has a fifty day simple moving average of $217.83 and a 200 day simple moving average of $225.58. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 0.88.

Amazon.com (NASDAQ:AMZNGet Free Report) last announced its earnings results on Thursday, February 5th. The e-commerce giant reported $1.95 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.02). Amazon.com had a return on equity of 21.87% and a net margin of 10.83%.The business had revenue of $213.39 billion for the quarter, compared to analyst estimates of $211.02 billion. During the same period in the previous year, the company earned $1.86 earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, analysts anticipate that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other news, CEO Matthew S. Garman sold 17,751 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $205.22, for a total transaction of $3,642,860.22. Following the completion of the sale, the chief executive officer owned 9,405 shares of the company’s stock, valued at $1,930,094.10. The trade was a 65.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas J. Herrington sold 6,835 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $205.82, for a total transaction of $1,406,779.70. Following the transaction, the chief executive officer owned 522,361 shares of the company’s stock, valued at approximately $107,512,341.02. This trade represents a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 71,686 shares of company stock valued at $14,688,739 in the last three months. Company insiders own 9.70% of the company’s stock.

Institutional Investors Weigh In On Amazon.com

Large investors have recently bought and sold shares of the company. Fairway Wealth LLC boosted its stake in Amazon.com by 113.2% during the 3rd quarter. Fairway Wealth LLC now owns 113 shares of the e-commerce giant’s stock worth $25,000 after purchasing an additional 60 shares during the last quarter. Sellwood Investment Partners LLC acquired a new stake in shares of Amazon.com in the third quarter valued at about $27,000. MilWealth Group LLC lifted its stake in shares of Amazon.com by 79.0% in the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock worth $41,000 after buying an additional 79 shares in the last quarter. Lifetime Wealth Management P.C. purchased a new position in shares of Amazon.com in the fourth quarter worth about $45,000. Finally, Elkhorn Partners Limited Partnership boosted its position in Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant’s stock worth $46,000 after acquiring an additional 180 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

About Amazon.com

(Get Free Report)

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon’s online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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