Amazon.com (NASDAQ:AMZN) Trading Down 2.5% – Here’s What Happened

Amazon.com, Inc. (NASDAQ:AMZN) dropped 2.5% on Wednesday . The company traded as low as $235.50 and last traded at $236.10. Approximately 14,716,053 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 31,871,828 shares. The stock had previously closed at $242.06.

Analysts Set New Price Targets

Several research firms have weighed in on AMZN. JMP Securities reissued a “market outperform” rating and issued a $285.00 price objective on shares of Amazon.com in a research report on Thursday, January 30th. Telsey Advisory Group reissued an “outperform” rating and set a $275.00 target price on shares of Amazon.com in a report on Friday, January 31st. Maxim Group raised their price objective on shares of Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Raymond James lifted their price objective on Amazon.com from $230.00 to $260.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, UBS Group increased their price target on shares of Amazon.com from $230.00 to $264.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.56.

Amazon.com Trading Down 2.3 %

The company has a market capitalization of $2.49 trillion, a P/E ratio of 50.67, a PEG ratio of 1.35 and a beta of 1.15. 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 company’s fifty day simple moving average is $225.24 and its 200-day simple moving average is $199.78.

Insider Activity at Amazon.com

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,996,362 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $208.85, for a total transaction of $625,790,203.70. Following the sale, the insider now owns 917,416,976 shares in the company, valued at approximately $191,602,535,437.60. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the company’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 value of $246,237.22. Following the completion of the sale, the director now owns 24,912 shares in the company, valued at approximately $4,958,982.72. This represents a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,027,340 shares of company stock valued at $1,252,456,773 over the last quarter. 10.80% of the stock is owned by corporate insiders.

Institutional Trading of Amazon.com

Several hedge funds and other institutional investors have recently bought and sold shares of AMZN. Fiera Capital Corp raised its position in shares of Amazon.com by 12.5% during the 2nd quarter. Fiera Capital Corp now owns 401,113 shares of the e-commerce giant’s stock worth $77,515,000 after acquiring an additional 44,615 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in Amazon.com by 13,606.7% in the second quarter. Strategic Financial Concepts LLC now owns 3,932,580 shares of the e-commerce giant’s stock valued at $759,971,000 after acquiring an additional 3,903,889 shares in the last quarter. Chris Bulman Inc acquired a new stake in shares of Amazon.com during the second quarter worth about $268,000. Keating Investment Counselors Inc. purchased a new stake in shares of Amazon.com in the 2nd quarter valued at about $232,000. Finally, Delta Financial Advisors LLC boosted its position in shares of Amazon.com by 0.5% in the 2nd quarter. Delta Financial Advisors LLC now owns 27,240 shares of the e-commerce giant’s stock valued at $5,264,000 after purchasing an additional 125 shares during the period. 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.