Amazon.com (NASDAQ:AMZN) Shares Down 0.1% – Here’s Why

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was down 0.1% during mid-day trading on Friday . The stock traded as low as $218.73 and last traded at $223.01. Approximately 18,224,266 shares changed hands during trading, a decline of 56% from the average daily volume of 41,127,945 shares. The stock had previously closed at $223.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Pivotal Research started coverage on Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 price target for the company. Mizuho raised their price objective on shares of Amazon.com from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Bank of America boosted their target price on shares of Amazon.com from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Sanford C. Bernstein raised their price target on shares of Amazon.com from $235.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Piper Sandler upped their price objective on shares of Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.00.

Amazon.com Price Performance

The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average price is $205.11 and its 200-day moving average price is $190.98. The company has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 47.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.16.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The company had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts anticipate that Amazon.com, Inc. will post 5.29 earnings per share for the current year.

Insider Transactions at Amazon.com

In related news, Director Daniel P. Huttenlocher sold 1,237 shares of Amazon.com stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $199.06, for a total transaction of $246,237.22. Following the transaction, the director now owns 24,912 shares of the company’s stock, valued at $4,958,982.72. This trade represents a 4.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP David Zapolsky sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the sale, the senior vice president now directly owns 62,420 shares of the company’s stock, valued at $12,171,900. The trade was a 3.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,034,534 shares of company stock worth $1,253,883,872 in the last quarter. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PayPay Securities Corp lifted its stake in Amazon.com by 64.6% in the second quarter. PayPay Securities Corp now owns 163 shares of the e-commerce giant’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Hoese & Co LLP acquired a new stake in shares of Amazon.com during the third quarter worth $37,000. Bull Oak Capital LLC bought a new stake in Amazon.com in the 3rd quarter valued at $45,000. Christopher J. Hasenberg Inc boosted its stake in Amazon.com by 650.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 300 shares of the e-commerce giant’s stock worth $58,000 after purchasing an additional 260 shares during the period. Finally, Values First Advisors Inc. bought a new position in Amazon.com during the 3rd quarter worth about $56,000. 72.20% of the stock is owned by institutional investors and hedge funds.

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.