Amazon.com (NASDAQ:AMZN) Stock Price Down 1.3% After Analyst Downgrade

Key Points

• Amazon.com (NASDAQ:AMZN) shares fell by 1.3% following a downgrade from Oppenheimer, lowering their price target from $250.00 to $245.00.
• Despite the recent downgrade, the consensus among analysts remains positive, with a majority rating the stock as a "Buy" and setting a consensus price target of $262.45.
• Insider trading activity is notable, with Jeffrey P. Bezos selling over 2.6 million shares for approximately $609 million, resulting in a decrease in his ownership stake.

Amazon.com, Inc. (NASDAQ:AMZN) shares dropped 1.3% during trading on Monday after Oppenheimer lowered their price target on the stock from $250.00 to $245.00. Oppenheimer currently has an outperform rating on the stock. Amazon.com traded as low as $212.08 and last traded at $211.90. Approximately 29,187,174 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 44,686,250 shares. The stock had previously closed at $214.75.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets raised their price target on shares of Amazon.com from $233.00 to $270.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Citizens Jmp assumed coverage on Amazon.com in a report on Thursday, July 10th. They set a "strong-buy" rating on the stock. Evercore ISI lowered their price target on Amazon.com from $270.00 to $260.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company increased their price objective on Amazon.com from $238.00 to $245.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. boosted their target price on Amazon.com from $255.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday. One research analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $262.45.

Insider Buying and Selling at Amazon.com

In related news, insider Jeffrey P. Bezos sold 2,643,142 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the transaction, the insider directly owned 883,779,901 shares of the company's stock, valued at approximately $203,649,402,587.43. This represents a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 25,099,537 shares of company stock worth $5,674,394,548 over the last ninety days. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. LaFleur & Godfrey LLC grew its stake in shares of Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after acquiring an additional 860 shares during the period. Brighton Jones LLC boosted its holdings in Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after purchasing an additional 397,007 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after purchasing an additional 986 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Amazon.com by 2.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after purchasing an additional 54,987 shares during the period. Finally, Highview Capital Management LLC DE raised its stake in Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after buying an additional 1,518 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Performance

The business's 50 day simple moving average is $218.20 and its two-hundred day simple moving average is $209.03. The firm has a market capitalization of $2.25 trillion, a PE ratio of 32.30, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The company has a current ratio of 1.02, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The e-commerce giant reported $1.68 EPS for the quarter, topping the consensus estimate of $1.31 by $0.37. Amazon.com had a return on equity of 23.84% and a net margin of 10.54%. The company had revenue of $167.70 billion during the quarter, compared to analyst estimates of $161.80 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. Amazon.com's revenue was up 13.3% compared to the same quarter last year. Research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.