Amazon.com (NASDAQ:AMZN) Stock Rating Lowered by Wells Fargo & Company

Amazon.com (NASDAQ:AMZN) was downgraded by equities research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued on Monday, Marketbeat Ratings reports. They currently have a $183.00 target price on the e-commerce giant’s stock, down from their previous target price of $225.00. Wells Fargo & Company‘s price target would suggest a potential upside of 0.15% from the company’s previous close.

A number of other analysts also recently issued reports on AMZN. JMP Securities reissued a “market outperform” rating and set a $265.00 target price on shares of Amazon.com in a research report on Friday, October 4th. Truist Financial upped their price target on shares of Amazon.com from $230.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Wedbush restated an “outperform” rating and issued a $225.00 price target on shares of Amazon.com in a report on Friday, August 2nd. Bank of America dropped their price objective on shares of Amazon.com from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Finally, Rosenblatt Securities upped their target price on shares of Amazon.com from $220.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.67.

Amazon.com Stock Performance

NASDAQ:AMZN opened at $182.72 on Monday. The company has a market cap of $1.90 trillion, a P/E ratio of 51.06, a P/E/G ratio of 1.46 and a beta of 1.14. The firm’s 50 day moving average is $179.13 and its two-hundred day moving average is $183.01. Amazon.com has a fifty-two week low of $118.35 and a fifty-two week high of $201.20. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. The firm had revenue of $147.98 billion for the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. Analysts expect that Amazon.com will post 4.86 EPS for the current year.

Insider Buying and Selling

In other Amazon.com news, CFO Brian T. Olsavsky sold 14,600 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the sale, the chief financial officer now owns 49,000 shares of the company’s stock, valued at $8,820,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Andrew R. Jassy sold 20,784 shares of Amazon.com stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $180.77, for a total value of $3,757,123.68. Following the completion of the transaction, the chief executive officer now owns 2,056,534 shares in the company, valued at approximately $371,759,651.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian T. Olsavsky sold 14,600 shares of Amazon.com stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $180.00, for a total value of $2,628,000.00. Following the completion of the transaction, the chief financial officer now owns 49,000 shares of the company’s stock, valued at approximately $8,820,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,355 shares of company stock valued at $9,877,423 over the last ninety days. 10.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position 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 worth $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Swedbank AB acquired a new position in shares of Amazon.com during the first quarter valued at $2,239,757,000. Capital World Investors boosted its holdings in Amazon.com by 64.6% in the first quarter. Capital World Investors now owns 29,359,677 shares of the e-commerce giant’s stock valued at $5,295,899,000 after acquiring an additional 11,524,463 shares during the last quarter. Capital Research Global Investors increased its position in Amazon.com by 8.5% in the first quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock worth $15,689,968,000 after purchasing an additional 6,810,145 shares during the period. Finally, Global Assets Advisory LLC increased its position in Amazon.com by 30,350.2% in the first quarter. Global Assets Advisory LLC now owns 6,531,569 shares of the e-commerce giant’s stock worth $1,178,164,000 after purchasing an additional 6,510,119 shares during the period. 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.