Peregrine Capital Management LLC Has $149.57 Million Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Peregrine Capital Management LLC lessened its position in Amazon.com, Inc. (NASDAQ:AMZN) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 773,953 shares of the e-commerce giant’s stock after selling 11,188 shares during the period. Amazon.com comprises approximately 4.4% of Peregrine Capital Management LLC’s holdings, making the stock its biggest holding. Peregrine Capital Management LLC’s holdings in Amazon.com were worth $149,566,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMZN. Collective Family Office LLC increased its position in Amazon.com by 9.7% in the 1st quarter. Collective Family Office LLC now owns 9,278 shares of the e-commerce giant’s stock valued at $1,674,000 after acquiring an additional 819 shares in the last quarter. Phillips Wealth Planners LLC grew its stake in shares of Amazon.com by 9.2% during the first quarter. Phillips Wealth Planners LLC now owns 2,655 shares of the e-commerce giant’s stock valued at $487,000 after purchasing an additional 224 shares during the last quarter. Bayesian Capital Management LP bought a new position in Amazon.com in the 4th quarter worth approximately $5,926,000. Clearstead Trust LLC raised its position in Amazon.com by 25.8% in the 4th quarter. Clearstead Trust LLC now owns 65,539 shares of the e-commerce giant’s stock worth $9,958,000 after purchasing an additional 13,454 shares during the last quarter. Finally, Summa Corp. acquired a new position in Amazon.com during the 4th quarter worth $1,506,000. Institutional investors and hedge funds own 72.20% of the company’s stock.

Wall Street Analyst Weigh In

AMZN has been the subject of a number of recent research reports. Jefferies Financial Group dropped their target price on Amazon.com from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Amazon.com in a research note on Friday, August 2nd. TD Cowen lifted their price target on shares of Amazon.com from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Roth Mkm increased their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $222.84.

Amazon.com Price Performance

NASDAQ AMZN opened at $193.88 on Tuesday. The firm’s 50 day moving average is $178.57 and its 200-day moving average is $182.22. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $2.02 trillion, a PE ratio of 54.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.14. Amazon.com, Inc. has a 12-month low of $118.35 and a 12-month high of $201.20.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The firm had revenue of $147.98 billion during 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%. Equities research analysts anticipate that Amazon.com, Inc. will post 4.86 earnings per share for the current fiscal year.

Insider Transactions at Amazon.com

In related news, VP Shelley Reynolds sold 3,791 shares of Amazon.com stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the transaction, the vice president now owns 121,461 shares in the company, valued at $21,989,299.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Amazon.com news, VP Shelley Reynolds sold 3,791 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.04, for a total transaction of $686,322.64. Following the completion of the sale, the vice president now owns 121,461 shares of the company’s stock, valued at approximately $21,989,299.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $195.99, for a total transaction of $685,965.00. Following the completion of the transaction, the chief executive officer now owns 519,753 shares in the company, valued at $101,866,390.47. The disclosure for this sale can be found here. Insiders have sold 6,104,317 shares of company stock worth $1,220,621,322 in the last ninety days. Insiders own 10.80% 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.