Peregrine Capital Management LLC Reduces Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Peregrine Capital Management LLC lowered its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676,084 shares of the e-commerce giant’s stock after selling 26,862 shares during the quarter. Amazon.com comprises 4.3% of Peregrine Capital Management LLC’s holdings, making the stock its largest holding. Peregrine Capital Management LLC’s holdings in Amazon.com were worth $128,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AMZN. Cable Hill Partners LLC lifted its holdings in shares of Amazon.com by 0.5% during the fourth quarter. Cable Hill Partners LLC now owns 9,588 shares of the e-commerce giant’s stock worth $2,104,000 after purchasing an additional 44 shares during the period. Northern Capital Management Inc. lifted its holdings in shares of Amazon.com by 0.6% during the fourth quarter. Northern Capital Management Inc. now owns 7,353 shares of the e-commerce giant’s stock worth $1,613,000 after purchasing an additional 45 shares during the period. Balanced Wealth Group LLC lifted its holdings in shares of Amazon.com by 1.6% during the fourth quarter. Balanced Wealth Group LLC now owns 2,966 shares of the e-commerce giant’s stock worth $705,000 after purchasing an additional 48 shares during the period. ETF Store Inc. lifted its holdings in shares of Amazon.com by 2.1% during the fourth quarter. ETF Store Inc. now owns 2,378 shares of the e-commerce giant’s stock worth $522,000 after purchasing an additional 48 shares during the period. Finally, TD Capital Management LLC lifted its holdings in shares of Amazon.com by 1.6% during the fourth quarter. TD Capital Management LLC now owns 3,058 shares of the e-commerce giant’s stock worth $671,000 after purchasing an additional 49 shares during the period. Institutional investors own 72.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMZN has been the subject of a number of research reports. Sanford C. Bernstein set a $235.00 target price on Amazon.com and gave the stock an “outperform” rating in a report on Tuesday, July 1st. BNP Paribas raised Amazon.com from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. JPMorgan Chase & Co. lifted their price target on Amazon.com from $240.00 to $255.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. HSBC lifted their price target on Amazon.com from $240.00 to $256.00 in a research report on Tuesday. Finally, Roth Capital set a $250.00 price target on Amazon.com and gave the company a “buy” rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating, forty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Amazon.com has an average rating of “Moderate Buy” and a consensus target price of $254.33.

Amazon.com Stock Performance

Shares of NASDAQ:AMZN opened at $232.23 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The business’s 50 day moving average price is $215.14 and its 200-day moving average price is $208.84. The firm has a market capitalization of $2.47 trillion, a PE ratio of 37.82, a P/E/G ratio of 1.70 and a beta of 1.33. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion for the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amazon.com news, insider Jeffrey P. Bezos sold 4,273,237 shares of the business’s stock in a transaction on Friday, July 11th. The stock was sold at an average price of $224.81, for a total transaction of $960,666,409.97. Following the transaction, the insider owned 897,722,088 shares of the company’s stock, valued at approximately $201,816,902,603.28. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 20,947,939 shares of company stock worth $4,720,588,785 over the last quarter. Insiders own 9.70% of the company’s stock.

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.