Amazon.com (NASDAQ:AMZN) Stock Price Down 1.9% Following Insider Selling

Amazon.com (NASDAQ:AMZN) Stock Price Down 1.9% Following Insider Selling

Amazon.com, Inc. (NASDAQ:AMZN)’s stock price was down 1.9% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $198.05 and last traded at $199.00. Approximately 17,478,576 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 41,416,336 shares. The stock had previously closed at $202.88.

Specifically, CEO Douglas J. Herrington sold 5,502 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $205.81, for a total value of $1,132,366.62. Following the completion of the transaction, the chief executive officer now directly owns 518,911 shares of the company’s stock, valued at approximately $106,797,072.91. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel P. Huttenlocher sold 1,237 shares of the business’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 $4,958,982.72. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMZN shares. Truist Financial upped their target price on shares of Amazon.com from $265.00 to $270.00 and gave the company a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group boosted their target price on Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Maxim Group raised their price target on Amazon.com from $251.00 to $260.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI increased 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 Friday, November 1st. Finally, Sanford C. Bernstein increased their price target on shares of Amazon.com from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.77.

Amazon.com Stock Performance

The company has a 50-day moving average of $192.56 and a 200-day moving average of $186.18. The company has a market cap of $2.09 trillion, a PE ratio of 42.61, a PEG ratio of 1.37 and a beta of 1.14. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

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

Institutional Trading of Amazon.com

A number of large investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. grew its holdings in Amazon.com by 1.2% during the third quarter. Westside Investment Management Inc. now owns 54,073 shares of the e-commerce giant’s stock valued at $10,047,000 after purchasing an additional 629 shares during the period. Unigestion Holding SA grew its stake in shares of Amazon.com by 17.4% during the 3rd quarter. Unigestion Holding SA now owns 19,784 shares of the e-commerce giant’s stock worth $3,686,000 after acquiring an additional 2,928 shares during the period. Second Line Capital LLC raised its stake in Amazon.com by 141.1% in the 3rd quarter. Second Line Capital LLC now owns 20,523 shares of the e-commerce giant’s stock valued at $3,824,000 after acquiring an additional 12,011 shares during the period. TCW Group Inc. lifted its holdings in Amazon.com by 2.0% during the third quarter. TCW Group Inc. now owns 2,358,623 shares of the e-commerce giant’s stock valued at $439,482,000 after purchasing an additional 46,277 shares during the last quarter. Finally, Hohimer Wealth Management LLC boosted its position in Amazon.com by 0.5% during the third quarter. Hohimer Wealth Management LLC now owns 37,417 shares of the e-commerce giant’s stock worth $6,972,000 after purchasing an additional 188 shares during the period. Hedge funds and other 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.

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