Amazon.com (NASDAQ:AMZN) Downgraded by Itau BBA Securities to “Market Perform”

Itau BBA Securities lowered shares of Amazon.com (NASDAQ:AMZN) from an outperform rating to a market perform rating in a research report report published on Friday morning, MarketBeat Ratings reports. Itau BBA Securities currently has $186.00 price target on the e-commerce giant’s stock.

A number of other analysts have also recently issued reports on AMZN. Truist Financial lifted their target price on shares of Amazon.com from $220.00 to $230.00 and gave the company a buy rating in a research note on Monday, July 22nd. Wolfe Research began coverage on shares of Amazon.com in a research note on Tuesday, July 16th. They issued an outperform rating and a $250.00 target price for the company. Piper Sandler lifted their target price on shares of Amazon.com from $205.00 to $220.00 and gave the company an overweight rating in a research note on Wednesday, May 1st. Moffett Nathanson reiterated a buy rating and issued a $228.00 target price on shares of Amazon.com in a research note on Thursday, April 11th. Finally, Loop Capital lifted their target price on shares of Amazon.com from $215.00 to $225.00 and gave the company a buy rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $218.91.

Amazon.com Stock Performance

Shares of AMZN opened at $167.90 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.87. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 47.03, a PEG ratio of 1.32 and a beta of 1.15. The company has a 50-day moving average of $187.12 and a two-hundred day moving average of $179.54. Amazon.com has a one year low of $118.35 and a one year high of $201.20.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $143.31 billion during the quarter, compared to analysts’ expectations of $142.65 billion. Amazon.com had a net margin of 7.35% and a return on equity of 22.35%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. On average, equities research analysts expect that Amazon.com will post 4.73 earnings per share for the current year.

Insider Buying and Selling

In other Amazon.com news, Director Keith Brian Alexander sold 1,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.22, for a total transaction of $186,220.00. Following the completion of the sale, the director now directly owns 4,760 shares of the company’s stock, valued at approximately $886,407.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Amazon.com news, Director Keith Brian Alexander sold 1,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $186.22, for a total transaction of $186,220.00. Following the completion of the sale, the director now directly owns 4,760 shares of the company’s stock, valued at approximately $886,407.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Rubinstein sold 5,264 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.00, for a total value of $1,000,160.00. Following the sale, the director now directly owns 104,400 shares of the company’s stock, valued at $19,836,000. The disclosure for this sale can be found here. Insiders have sold a total of 6,109,490 shares of company stock worth $1,221,619,033 in the last 90 days. Corporate insiders own 10.80% of the company’s stock.

Institutional Trading of Amazon.com

A number of large investors have recently bought and sold shares of the business. Garrison Point Advisors LLC increased its stake in Amazon.com by 0.3% during the 1st quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock worth $3,675,000 after purchasing an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. increased its stake in Amazon.com by 1.8% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 3,076 shares of the e-commerce giant’s stock worth $594,000 after purchasing an additional 55 shares in the last quarter. Ridgecrest Wealth Partners LLC increased its stake in Amazon.com by 0.7% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock worth $1,399,000 after purchasing an additional 56 shares in the last quarter. Stordahl Capital Management Inc. increased its stake in Amazon.com by 2.1% during the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after purchasing an additional 56 shares in the last quarter. Finally, Lutz Financial Services LLC increased its stake in Amazon.com by 1.9% during the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after purchasing an additional 57 shares in the last quarter. 72.20% of the stock is owned by institutional investors.

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.