Amazon.com (NASDAQ:AMZN) Price Target Cut to $240.00 by Analysts at Barclays

Amazon.com (NASDAQ:AMZN) had its price target cut by Barclays from $265.00 to $240.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the e-commerce giant's stock.

Several other research analysts have also issued reports on AMZN. DA Davidson lowered their target price on Amazon.com from $280.00 to $230.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada upped their target price on Amazon.com from $255.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Needham & Company LLC reiterated a "buy" rating and set a $220.00 price objective on shares of Amazon.com in a research report on Friday. Morgan Stanley cut their price target on shares of Amazon.com from $280.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Cantor Fitzgerald cut their target price on Amazon.com from $270.00 to $230.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Four analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to data from MarketBeat, Amazon.com currently has an average rating of "Moderate Buy" and a consensus target price of $244.09.

Amazon.com Price Performance

NASDAQ:AMZN traded down $0.56 during mid-day trading on Friday, reaching $185.79. The stock had a trading volume of 16,654,942 shares, compared to its average volume of 41,572,498. The stock has a 50-day simple moving average of $189.92 and a two-hundred day simple moving average of $208.04. 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 has a 12 month low of $151.61 and a 12 month high of $242.52. The stock has a market capitalization of $1.97 trillion, a PE ratio of 33.53, a P/E/G ratio of 1.50 and a beta of 1.30.

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

Insider Buying and Selling

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total value of $4,585,989.60. Following the completion of the transaction, the chief executive officer now directly owns 2,118,886 shares of the company's stock, valued at approximately $467,532,195.90. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas J. Herrington sold 2,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the sale, the chief executive officer now directly owns 509,474 shares in the company, valued at $95,776,017.26. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,298 shares of company stock valued at $23,818,478. 9.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Amazon.com

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

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.