Shares of Amazon.com, Inc. (NASDAQ:AMZN) fell 5.5% during trading on Monday after Bank of America lowered their price target on the stock from $220.00 to $210.00. Bank of America currently has a buy rating on the stock. Amazon.com traded as low as $152.14 and last traded at $158.67. 29,912,563 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 43,180,648 shares. The stock had previously closed at $167.90.
Other equities analysts have also recently issued reports about the company. Evercore ISI raised their price objective on Amazon.com from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial boosted their target price on Amazon.com from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Morgan Stanley boosted their target price on Amazon.com from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Argus upped their price target on Amazon.com from $185.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Telsey Advisory Group increased their price objective on Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $222.58.
Insider Transactions at Amazon.com
In other news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $189.25, for a total value of $662,375.00. Following the transaction, the chief executive officer now owns 503,753 shares in the company, valued at $95,335,255.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Jeffrey P. Bezos sold 266,396 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $200.01, for a total transaction of $53,281,863.96. Following the sale, the insider now directly owns 928,433,873 shares of the company’s stock, valued at $185,696,058,938.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the completion of the transaction, the chief executive officer now owns 503,753 shares of the company’s stock, valued at approximately $95,335,255.25. The disclosure for this sale can be found here. Insiders sold 6,111,990 shares of company stock valued at $1,222,095,188 over the last three months. Company insiders own 10.80% of the company’s stock.
Institutional Trading of Amazon.com
Several hedge funds have recently made changes to their positions in the company. Garrison Point Advisors LLC grew its position in shares of Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after purchasing an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. increased its stake in shares of Amazon.com by 1.8% during the second quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its stake in Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after acquiring an additional 56 shares in the last quarter. Stordahl Capital Management Inc. grew its stake in shares of Amazon.com by 2.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after buying an additional 56 shares during the period. Finally, Lutz Financial Services LLC lifted its holdings in shares of Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after acquiring an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 72.20% of the company’s stock.
Amazon.com Stock Performance
The stock’s fifty day simple moving average is $187.12 and its 200-day simple moving average is $179.92. The company has a market capitalization of $1.68 trillion, a price-to-earnings ratio of 44.45, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27.
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.