Amazon.com (NASDAQ:AMZN) Stock Price Down 1.2% on Insider Selling

Amazon.com, Inc. (NASDAQ:AMZN) fell 1.2% on Thursday following insider selling activity. The company traded as low as $196.76 and last traded at $197.59. 31,597,926 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 42,104,140 shares. The stock had previously closed at $200.00.

Specifically, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Douglas J. Herrington sold 3,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $195.99, for a total value of $685,965.00. Following the sale, the chief executive officer now directly owns 519,753 shares in the company, valued at $101,866,390.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam Selipsky sold 500 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $181.38, for a total value of $90,690.00. Following the completion of the sale, the chief executive officer now owns 130,600 shares in the company, valued at $23,688,228. The disclosure for this sale can be found here. Insiders sold a total of 69,548 shares of company stock worth $12,774,204 over the last ninety days. Company insiders own 10.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of analyst reports. Mizuho raised their price target on Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Bank of America raised their price target on Amazon.com from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Piper Sandler raised their price target on Amazon.com from $205.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Telsey Advisory Group raised their price target on Amazon.com from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $225.00 price objective on shares of Amazon.com in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $215.86.

Amazon.com Price Performance

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 stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 55.35, a P/E/G ratio of 1.43 and a beta of 1.15. The company has a 50-day moving average of $185.10 and a 200-day moving average of $174.15.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Tuesday, April 30th. The e-commerce giant reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The company had revenue of $143.31 billion during the quarter, compared to the consensus estimate of $142.65 billion. Amazon.com had a return on equity of 19.86% and a net margin of 6.38%. Amazon.com’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. As a group, equities research analysts expect that Amazon.com, Inc. will post 4.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First International Bank & Trust raised its holdings in Amazon.com by 18.2% in the 2nd quarter. First International Bank & Trust now owns 4,316 shares of the e-commerce giant’s stock valued at $834,000 after acquiring an additional 666 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in Amazon.com by 3.9% in the 2nd quarter. Beese Fulmer Investment Management Inc. now owns 173,737 shares of the e-commerce giant’s stock valued at $33,575,000 after acquiring an additional 6,457 shares during the last quarter. Moody National Bank Trust Division raised its holdings in Amazon.com by 5.9% in the 2nd quarter. Moody National Bank Trust Division now owns 97,396 shares of the e-commerce giant’s stock valued at $18,822,000 after acquiring an additional 5,454 shares during the last quarter. Hilltop Wealth Advisors LLC purchased a new stake in shares of Amazon.com during the 2nd quarter valued at $309,000. Finally, A.P. Gilfoyle & Co. L.P. grew its stake in shares of Amazon.com by 8.3% during the 2nd quarter. A.P. Gilfoyle & Co. L.P. now owns 1,700 shares of the e-commerce giant’s stock valued at $340,000 after buying an additional 131 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

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.