Amazon.com (NASDAQ:AMZN) Trading Down 0.8% Following Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)'s stock price was down 0.8% on Tuesday 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 $183.68 and last traded at $186.16. Approximately 19,485,296 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 41,794,233 shares. The stock had previously closed at $187.70.

AMZN has been the topic of several other research reports. Scotiabank dropped their target price on shares of Amazon.com from $306.00 to $250.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. raised their target price on Amazon.com from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday. The Goldman Sachs Group dropped their price target on Amazon.com from $255.00 to $220.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Jefferies Financial Group decreased their target price on Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Rosenblatt Securities raised their price target on shares of Amazon.com from $287.00 to $288.00 and gave the stock a "buy" rating in a research report on Friday. Three analysts have rated the stock with a hold rating and forty-five have given a buy rating to the stock. According to data from MarketBeat.com, Amazon.com currently has a consensus rating of "Moderate Buy" and an average price target of $242.75.

Insider Activity

In related news, VP Shelley Reynolds sold 8,833 shares of the business's stock in a transaction 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 sale, the vice president now owns 119,780 shares in the company, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Douglas J. Herrington sold 5,501 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the sale, the chief executive officer now owns 505,318 shares in the company, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,798 shares of company stock valued at $23,341,803. Company insiders own 10.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudent Man Investment Management Inc. purchased a new position in Amazon.com in the fourth quarter valued at $27,000. Accordant Advisory Group Inc raised its position 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 in the last quarter. LSV Asset Management purchased a new stake in Amazon.com during the fourth quarter worth approximately $35,000. Perritt Capital Management Inc boosted its holdings in Amazon.com by 72.7% in the fourth quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant's stock valued at $42,000 after purchasing an additional 80 shares in the last quarter. Finally, Cooksen Wealth LLC acquired a new stake in Amazon.com during the first quarter worth approximately $36,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Amazon.com Stock Down 0.1 %

The firm's 50-day moving average price is $190.94 and its two-hundred day moving average price is $207.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06. The firm has a market cap of $2.02 trillion, a PE ratio of 34.35, a P/E/G ratio of 1.50 and a beta of 1.39.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. Amazon.com had a return on equity of 24.25% and a net margin of 9.29%. The firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business's revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal 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.