Amazon.com (NASDAQ:AMZN) Trading Down 0.7% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)'s stock price traded down 0.7% on Monday after Royal Bank of Canada lowered their price target on the stock from $235.00 to $230.00. Royal Bank of Canada currently has an outperform rating on the stock. Amazon.com traded as low as $187.54 and last traded at $187.71. 9,715,612 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 41,787,848 shares. The stock had previously closed at $188.99.

A number of other analysts also recently issued reports on AMZN. Truist Financial dropped their price objective on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Phillip Securities lowered Amazon.com from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 10th. Benchmark reaffirmed a "buy" rating and set a $260.00 target price on shares of Amazon.com in a report on Friday. Mizuho decreased their price objective on Amazon.com from $285.00 to $255.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Barclays dropped their target price on Amazon.com from $265.00 to $240.00 and set an "overweight" rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and forty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $242.75.

Insider Activity at Amazon.com

In other news, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares in the company, valued at approximately $467,532,195.90. This represents a 0.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas J. Herrington sold 27,500 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the sale, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 104,798 shares of company stock worth $23,341,803. 10.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC bought a new stake in Amazon.com in the fourth quarter worth about $25,000. Accordant Advisory Group Inc lifted its stake in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in Amazon.com during the 4th quarter valued at $27,000. Icon Wealth Advisors LLC grew its position in Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after acquiring an additional 25,581 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in Amazon.com in the fourth quarter worth $35,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Trading Down 0.1 %

The stock has a market capitalization of $2.02 trillion, a P/E ratio of 34.35, a PEG ratio of 1.50 and a beta of 1.39. The stock's fifty day moving average price is $190.94 and its 200 day moving average price is $207.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The business had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Research analysts forecast that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

About Amazon.com

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.