Amazon.com (NASDAQ:AMZN) Price Target Cut to $210.00

Amazon.com (NASDAQ:AMZN) had its price objective decreased by stock analysts at Morgan Stanley from $240.00 to $210.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the e-commerce giant’s stock. Morgan Stanley’s target price would suggest a potential upside of 29.02% from the stock’s previous close.

Several other research analysts also recently commented on the company. Robert W. Baird raised their price objective on Amazon.com from $210.00 to $213.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Wedbush restated an “outperform” rating and set a $225.00 price objective on shares of Amazon.com in a report on Friday, August 2nd. Evercore ISI raised their price objective on Amazon.com from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Itau BBA Securities downgraded Amazon.com from an “outperform” rating to a “market perform” rating and set a $186.00 price target on the stock. in a report on Friday, August 2nd. Finally, TD Cowen lifted their price target on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One investment 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, Amazon.com presently has an average rating of “Buy” and a consensus price target of $221.88.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $162.77 on Tuesday. The stock has a 50-day simple moving average of $185.94 and a two-hundred day simple moving average of $179.90. Amazon.com has a 52-week low of $118.35 and a 52-week high of $201.20. The firm has a market capitalization of $1.69 trillion, a PE ratio of 45.59, 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.

Insider Transactions at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the completion of the transaction, the chief executive officer now owns 2,025,358 shares in the company, valued at $367,480,955.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $182.11, for a total transaction of $2,658,806.00. Following the sale, the chief financial officer now directly owns 49,000 shares of the company’s stock, valued at $8,923,390. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew R. Jassy sold 20,784 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $181.44, for a total transaction of $3,771,048.96. Following the completion of the transaction, the chief executive officer now directly owns 2,025,358 shares in the company, valued at $367,480,955.52. The disclosure for this sale can be found here. Insiders sold a total of 6,106,726 shares of company stock worth $1,221,095,028 in the last quarter. 10.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Amazon.com

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after buying an additional 14,724,687 shares during the last quarter. Norges Bank acquired a new stake in Amazon.com in the 4th quarter valued at $17,700,551,000. Capital Research Global Investors grew its position in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Bank of New York Mellon Corp grew its position in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after purchasing an additional 289,532 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Amazon.com by 0.5% during the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock worth $10,221,446,000 after acquiring an additional 295,132 shares during the last quarter. 72.20% of the stock is owned by institutional investors.

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.