Traders Sell Amazon.com (AMZN) on Strength After Analyst Downgrade

Investors sold shares of Amazon.com, Inc. (NASDAQ:AMZN) on strength during trading hours on Wednesday after Argus lowered their price target on the stock from $1,550.00 to $1,392.05. $2,277.19 million flowed into the stock on the tick-up and $2,610.97 million flowed out of the stock on the tick-down, for a money net flow of $333.78 million out of the stock. Of all equities tracked, Amazon.com had the 0th highest net out-flow for the day. Amazon.com traded up $18.52 for the day and closed at $1,410.57

AMZN has been the topic of a number of other reports. Vetr cut Amazon.com from a “hold” rating to a “sell” rating and set a $1,346.44 target price on the stock. in a report on Monday, January 29th. BidaskClub cut Amazon.com from a “strong-buy” rating to a “buy” rating in a report on Friday, March 30th. Goldman Sachs reiterated a “conviction-buy” rating on shares of Amazon.com in a report on Friday, February 2nd. UBS increased their target price on Amazon.com to $1,760.00 and gave the stock a “buy” rating in a report on Friday, March 9th. They noted that the move was a valuation call. Finally, Citigroup reiterated a “buy” rating and issued a $1,400.00 target price (up from $1,250.00) on shares of Amazon.com in a report on Friday, January 5th. Four investment analysts have rated the stock with a hold rating, forty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,494.78.

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In related news, CEO Jeffrey A. Wilke sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $1,577.85, for a total value of $788,925.00. Following the completion of the sale, the chief executive officer now owns 10,000 shares in the company, valued at approximately $15,778,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Shelley Reynolds sold 544 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $1,462.32, for a total value of $795,502.08. Following the completion of the sale, the vice president now owns 6,533 shares of the company’s stock, valued at approximately $9,553,336.56. The disclosure for this sale can be found here. Insiders sold a total of 6,214 shares of company stock valued at $9,251,120 in the last 90 days. 17.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Day & Ennis LLC lifted its position in Amazon.com by 21.3% in the second quarter. Day & Ennis LLC now owns 279 shares of the e-commerce giant’s stock valued at $270,000 after purchasing an additional 49 shares during the last quarter. Beach Investment Management LLC. lifted its position in Amazon.com by 996.3% in the second quarter. Beach Investment Management LLC. now owns 22,035 shares of the e-commerce giant’s stock valued at $21,330,000 after purchasing an additional 20,025 shares during the last quarter. Marvin & Palmer Associates Inc. lifted its position in Amazon.com by 20.5% in the second quarter. Marvin & Palmer Associates Inc. now owns 5,894 shares of the e-commerce giant’s stock valued at $5,705,000 after purchasing an additional 1,003 shares during the last quarter. Shoker Investment Counsel Inc. lifted its position in Amazon.com by 15.9% in the second quarter. Shoker Investment Counsel Inc. now owns 285 shares of the e-commerce giant’s stock valued at $275,000 after purchasing an additional 39 shares during the last quarter. Finally, Freestone Capital Holdings LLC increased its stake in shares of Amazon.com by 3.3% during the second quarter. Freestone Capital Holdings LLC now owns 821 shares of the e-commerce giant’s stock valued at $795,000 after buying an additional 26 shares during the period. Institutional investors own 60.21% of the company’s stock.

The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt-to-equity ratio of 0.89. The company has a market cap of $682,867.06, a PE ratio of 319.07, a P/E/G ratio of 6.20 and a beta of 1.59.

Amazon.com (NASDAQ:AMZN) last posted its earnings results on Thursday, February 1st. The e-commerce giant reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.31. Amazon.com had a return on equity of 9.23% and a net margin of 1.71%. The firm had revenue of $60.45 billion for the quarter, compared to analysts’ expectations of $59.85 billion. During the same period in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was up 38.2% compared to the same quarter last year. analysts anticipate that Amazon.com, Inc. will post 8.49 EPS for the current fiscal year.

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About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.

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