Amazon.com (NASDAQ:AMZN) Shares Down 3% – Here’s What Happened

Shares of Amazon.com, Inc. (NASDAQ:AMZN) were down 3% on Friday . The stock traded as low as $204.06 and last traded at $205.14. Approximately 28,334,334 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 41,368,820 shares. The stock had previously closed at $211.48.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company cut Amazon.com from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $225.00 to $183.00 in a research report on Monday, October 7th. BMO Capital Markets reiterated an “outperform” rating and issued a $236.00 price target (up from $230.00) on shares of Amazon.com in a research note on Friday, November 1st. Morgan Stanley increased their price objective on shares of Amazon.com from $210.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group lifted their target price on shares of Amazon.com from $220.00 to $223.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their price target on Amazon.com from $230.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $235.45.

Amazon.com Price Performance

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 firm has a fifty day simple moving average of $190.54 and a 200 day simple moving average of $185.54. The company has a market capitalization of $2.13 trillion, a PE ratio of 43.93, a P/E/G ratio of 1.44 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 EPS for the quarter, beating the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion for the quarter, compared to analyst estimates of $157.28 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts anticipate that Amazon.com, Inc. will post 5.27 EPS for the current year.

Insider Activity

In other Amazon.com news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $180.77, for a total value of $3,757,123.68. Following the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at $371,759,651.18. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,791 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.04, for a total transaction of $686,322.64. Following the sale, the vice president now directly owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,053,349 shares of company stock worth $1,256,503,289. 10.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMZN. Icon Wealth Advisors LLC grew its position in 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 worth $28,000 after purchasing an additional 25,581 shares during the last quarter. PayPay Securities Corp grew its holdings in shares of Amazon.com by 64.6% during 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 during the last quarter. Hoese & Co LLP acquired a new position in shares of Amazon.com in the 3rd quarter valued at $37,000. Bull Oak Capital LLC purchased a new position in Amazon.com in the 3rd quarter worth $45,000. Finally, Values First Advisors Inc. acquired a new stake in Amazon.com during the 3rd quarter worth about $56,000. Institutional investors 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.