Amazon.com, Inc. (NASDAQ:AMZN)'s stock price traded down 8.7% on Thursday after an insider sold shares in the company. The company traded as low as $176.92 and last traded at $178.92. 42,136,022 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 40,083,354 shares. The stock had previously closed at $196.01.
Specifically, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the transaction, the chief executive officer now directly owns 509,474 shares in the company, valued at approximately $95,776,017.26. The trade was a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Analysts Set New Price Targets
A number of analysts have commented on AMZN shares. Barclays raised their price objective on Amazon.com from $235.00 to $265.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on shares of Amazon.com from $250.00 to $280.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Jefferies Financial Group dropped their price objective on shares of Amazon.com from $275.00 to $250.00 and set a "buy" rating for the company in a research note on Monday, March 31st. The Goldman Sachs Group lifted their target price on shares of Amazon.com from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Finally, Maxim Group increased their price target on shares of Amazon.com from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Amazon.com presently has an average rating of "Moderate Buy" and an average price target of $260.53.
Check Out Our Latest Analysis on AMZN
Amazon.com Stock Performance
The company has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 31.69, a P/E/G ratio of 1.50 and a beta of 1.39. The stock's 50 day moving average price is $212.18 and its 200 day moving average price is $209.22. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18.
Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.
Hedge Funds Weigh In On Amazon.com
Several institutional investors and hedge funds have recently modified their holdings of the stock. Castlekeep Investment Advisors LLC bought a new position in shares of Amazon.com during the fourth quarter worth approximately $25,000. Accordant Advisory Group Inc increased its position in 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 buying an additional 100 shares during the period. Prudent Man Investment Management Inc. acquired a new position in shares of Amazon.com in the fourth quarter valued at about $27,000. Icon Wealth Advisors LLC increased its position in Amazon.com by 20.5% during the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock worth $28,000 after acquiring an additional 25,581 shares during the period. Finally, LSV Asset Management acquired a new stake in Amazon.com during the fourth quarter worth approximately $35,000. 72.20% of the stock is currently owned by institutional investors and hedge funds.
About Amazon.com
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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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