Amazon.com (NASDAQ:AMZN) Stock Price Down 1.1% After Analyst Downgrade

Amazon.com, Inc. (NASDAQ:AMZN)'s stock price fell 1.1% 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 $185.53 and last traded at $187.87. 10,746,369 shares traded hands during trading, a decline of 74% from the average session volume of 41,576,575 shares. The stock had previously closed at $189.98.

Several other research firms have also issued reports on AMZN. Westpark Capital reaffirmed a "buy" rating and set a $280.00 price target on shares of Amazon.com in a research report on Friday. Truist Financial decreased their price objective on shares of Amazon.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Raymond James reiterated an "outperform" rating and issued a $195.00 price target (down previously from $275.00) on shares of Amazon.com in a research note on Monday, April 21st. Bank of America lowered their target price on Amazon.com from $257.00 to $225.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, HSBC upped their price objective on Amazon.com from $225.00 to $270.00 and gave the company a "buy" rating in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and forty-four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.55.

Insider Activity at Amazon.com

In other news, CEO Douglas J. Herrington sold 27,500 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the transaction, the chief executive officer now directly owns 497,067 shares of the company's stock, valued at $114,459,618.09. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Shelley Reynolds sold 8,833 shares of Amazon.com stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company's stock, valued at approximately $26,647,456.60. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,798 shares of company stock worth $23,341,803 in the last quarter. Company insiders own 9.70% of the company's stock.

Hedge Funds Weigh In On Amazon.com

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Amazon.com by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant's stock valued at $180,637,081,000 after purchasing an additional 17,635,391 shares during the period. State Street Corp boosted its holdings in Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant's stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the period. FMR LLC increased its stake in Amazon.com by 0.5% in the 4th quarter. FMR LLC now owns 328,464,225 shares of the e-commerce giant's stock worth $72,061,766,000 after acquiring an additional 1,725,664 shares during the last quarter. Geode Capital Management LLC raised its stake in Amazon.com by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 204,930,426 shares of the e-commerce giant's stock valued at $44,837,256,000 after purchasing an additional 5,015,380 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Amazon.com by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 182,813,905 shares of the e-commerce giant's stock worth $40,107,544,000 after acquiring an additional 4,087,933 shares in the last quarter. Institutional investors own 72.20% of the company's stock.

Amazon.com Price Performance

The stock has a market capitalization of $1.99 trillion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The firm has a 50-day moving average price of $190.48 and a 200 day moving average price of $208.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

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

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