Amazon.com (NASDAQ:AMZN) Price Target Lowered to $210.00 at Bank of America

Amazon.com (NASDAQ:AMZN) had its price objective lowered by Bank of America from $220.00 to $210.00 in a report published on Friday, Benzinga reports. The firm currently has a buy rating on the e-commerce giant’s stock.

A number of other brokerages have also commented on AMZN. Robert W. Baird increased their price objective on shares of Amazon.com from $210.00 to $213.00 and gave the stock an outperform rating in a report on Friday, June 21st. Needham & Company LLC raised their price target on shares of Amazon.com from $205.00 to $210.00 and gave the company a buy rating in a report on Wednesday, July 17th. Mizuho upped their price objective on Amazon.com from $230.00 to $240.00 and gave the stock a buy rating in a report on Wednesday, May 1st. Rosenblatt Securities reissued a buy rating and issued a $220.00 target price on shares of Amazon.com in a research note on Wednesday, May 1st. Finally, Benchmark restated a buy rating and set a $200.00 target price on shares of Amazon.com in a research report on Friday. One equities research analyst has rated the stock with a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $222.58.

Amazon.com Price Performance

Amazon.com stock opened at $161.02 on Friday. Amazon.com has a 52 week low of $118.35 and a 52 week high of $201.20. The firm has a market cap of $1.68 trillion, a P/E ratio of 44.45, a P/E/G ratio of 1.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.07. The business’s fifty day moving average is $187.12 and its two-hundred day moving average is $179.92.

Insiders Place Their Bets

In related news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $181.44, for a total value of $3,771,048.96. Following the sale, the chief executive officer now owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total value of $3,771,048.96. Following the completion of the transaction, the chief executive officer now directly owns 2,025,358 shares of the company’s stock, valued at $367,480,955.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $177.29, for a total transaction of $620,515.00. Following the sale, the chief executive officer now directly owns 523,253 shares in the company, valued at $92,767,524.37. The disclosure for this sale can be found here. Insiders have sold 6,111,990 shares of company stock valued at $1,222,095,188 in the last three months. 10.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amazon.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Garrison Point Advisors LLC increased its holdings in shares of 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 acquiring an additional 55 shares during the last quarter. Meridian Investment Counsel Inc. boosted its position in Amazon.com by 1.8% during the second 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 during the period. Ridgecrest Wealth Partners LLC increased its holdings in shares of Amazon.com by 0.7% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,755 shares of the e-commerce giant’s stock valued at $1,399,000 after purchasing an additional 56 shares during the last quarter. Stordahl Capital Management Inc. increased its holdings in shares of Amazon.com by 2.1% in the first quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock valued at $498,000 after purchasing an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its position in shares of Amazon.com by 1.9% in the first quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock valued at $551,000 after purchasing an additional 57 shares during the period. Institutional investors own 72.20% of the company’s stock.

Amazon.com Company Profile

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.