Amazon.com (NASDAQ:AMZN) Stock Price Down 2.3% – Should You Sell?

Amazon.com, Inc. (NASDAQ:AMZN) was down 2.3% during trading on Friday . The stock traded as low as $220.90 and last traded at $221.83. Approximately 7,786,632 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 41,022,664 shares. The stock had previously closed at $227.05.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AMZN. Piper Sandler raised their price target on Amazon.com from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Loop Capital lifted their target price on Amazon.com from $225.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 price objective on shares of Amazon.com in a research note on Monday, October 7th. Wedbush boosted their price target on shares of Amazon.com from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Pivotal Research initiated coverage on shares of Amazon.com in a research note on Friday, October 11th. They set a “buy” rating and a $260.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Amazon.com Stock Performance

The business’s 50-day moving average price is $209.04 and its 200-day moving average price is $192.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The stock has a market cap of $2.33 trillion, a P/E ratio of 47.55, a P/E/G ratio of 1.54 and a beta of 1.16.

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

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now directly owns 88,203 shares in the company, valued at approximately $20,273,459.55. This trade represents a 4.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the firm’s 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 completion of the sale, the director now owns 24,912 shares of the company’s stock, valued at approximately $4,958,982.72. This trade represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,032,344 shares of company stock worth $1,253,456,822. Corporate insiders own 10.80% of the company’s stock.

Hedge Funds Weigh In On Amazon.com

Several large investors have recently modified their holdings of AMZN. International Assets Investment Management LLC boosted its position in Amazon.com by 20,897.2% in the 3rd quarter. International Assets Investment Management LLC now owns 39,135,449 shares of the e-commerce giant’s stock valued at $72,921,080,000 after buying an additional 38,949,065 shares during the period. Parnassus Investments LLC raised its position in Amazon.com by 82,457.3% in the 3rd quarter. Parnassus Investments LLC now owns 11,405,294 shares of the e-commerce giant’s stock valued at $2,125,148,000 after purchasing an additional 11,391,479 shares during the last quarter. State Street Corp grew its stake in shares of Amazon.com by 3.3% in the 3rd quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after purchasing an additional 11,370,309 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Amazon.com by 13,606.7% in the 2nd quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after buying an additional 3,903,889 shares during the period. Institutional investors and hedge funds own 72.20% of the company’s stock.

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.