Amazon.com (NASDAQ:AMZN) PT Lowered to $224.00

Amazon.com (NASDAQ:AMZN) had its target price trimmed by Stifel Nicolaus from $228.00 to $224.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a buy rating on the e-commerce giant’s stock.

A number of other brokerages have also weighed in on AMZN. Telsey Advisory Group increased their target price on Amazon.com from $200.00 to $215.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Morgan Stanley raised their price objective on Amazon.com from $220.00 to $240.00 and gave the company an overweight rating in a report on Tuesday, July 23rd. TD Cowen raised their price objective on Amazon.com from $225.00 to $245.00 and gave the company a buy rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on Amazon.com from $225.00 to $240.00 and gave the stock an overweight rating in a research report on Wednesday, May 1st. Finally, Benchmark reissued a buy rating and issued a $200.00 price objective on shares of Amazon.com in a research report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $222.58.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $161.02 on Friday. The firm has a market cap of $1.68 trillion, a P/E ratio of 44.45, a price-to-earnings-growth ratio of 1.32 and a beta of 1.15. The company has a current ratio of 1.07, a quick ratio of 0.87 and a debt-to-equity ratio of 0.27. Amazon.com has a 1-year low of $118.35 and a 1-year high of $201.20. The business’s 50 day moving average is $187.12 and its 200-day moving average is $179.92.

Insider Buying and Selling

In other news, Director Jonathan Rubinstein sold 5,264 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the completion of the transaction, the director now owns 104,400 shares in the company, valued at approximately $19,836,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jonathan Rubinstein sold 5,264 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $190.00, for a total transaction of $1,000,160.00. Following the sale, the director now directly owns 104,400 shares in the company, valued at approximately $19,836,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey P. Bezos sold 3,085,116 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $200.07, for a total transaction of $617,239,158.12. Following the completion of the sale, the insider now directly owns 931,925,277 shares in the company, valued at $186,450,290,169.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,111,990 shares of company stock valued at $1,222,095,188. 10.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Garrison Point Advisors LLC raised its position in Amazon.com by 0.3% during the first quarter. Garrison Point Advisors LLC now owns 20,375 shares of the e-commerce giant’s stock valued at $3,675,000 after purchasing an additional 55 shares in the last quarter. Meridian Investment Counsel Inc. lifted its holdings in shares of 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 valued at $594,000 after purchasing an additional 55 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its holdings in shares of Amazon.com by 0.7% during 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. raised its holdings in Amazon.com by 2.1% in the 1st quarter. Stordahl Capital Management Inc. now owns 2,763 shares of the e-commerce giant’s stock worth $498,000 after acquiring an additional 56 shares during the last quarter. Finally, Lutz Financial Services LLC raised its holdings in Amazon.com by 1.9% in the 1st quarter. Lutz Financial Services LLC now owns 3,053 shares of the e-commerce giant’s stock worth $551,000 after acquiring an additional 57 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other 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.