Amazon.com, Inc. $AMZN Shares Sold by Peregrine Capital Management LLC

Key Points

• Peregrine Capital Management cut its Amazon stake by 10.4% in Q1, selling 59,320 shares and leaving it with 513,122 shares worth about $106.9 million. Amazon remains the firm’s largest holding, representing 4.0% of its portfolio.
• Wall Street remains broadly bullish on Amazon, with several firms raising price targets and the consensus rating sitting at Moderate Buy. MarketBeat says 57 analysts rate the stock Buy and only three rate it Hold.
• Amazon beat Q1 expectations with EPS of $2.78 on revenue of $181.5 billion, while revenue rose 16.6% year over year. The company also saw recent insider selling and continued investor focus on its heavy AI-related spending and debt financing.

Peregrine Capital Management LLC trimmed its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 513,122 shares of the e-commerce giant's stock after selling 59,320 shares during the period. Amazon.com makes up 4.0% of Peregrine Capital Management LLC's portfolio, making the stock its biggest holding. Peregrine Capital Management LLC's holdings in Amazon.com were worth $106,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MilWealth Group LLC raised its position in shares of Amazon.com by 79.0% during the fourth quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock valued at $41,000 after buying an additional 79 shares during the last quarter. Lifetime Wealth Management P.C. acquired a new stake in Amazon.com during the fourth quarter worth about $45,000. Elkhorn Partners Limited Partnership increased its stake in Amazon.com by 900.0% during the fourth quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock valued at $46,000 after acquiring an additional 180 shares during the period. Fairway Wealth LLC increased its stake in Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after acquiring an additional 108 shares during the period. Finally, Prudent Man Investment Management Inc. raised its holdings in Amazon.com by 87.7% in the 4th quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after acquiring an additional 107 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AMZN. Deutsche Bank Aktiengesellschaft raised their price objective on Amazon.com from $290.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Moffett Nathanson lifted their target price on shares of Amazon.com from $283.00 to $288.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Arete Research upped their target price on shares of Amazon.com from $301.00 to $310.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Sanford C. Bernstein restated an "outperform" rating and set a $315.00 price target (up from $300.00) on shares of Amazon.com in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $335.00 price objective on shares of Amazon.com in a report on Thursday. Fifty-seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $312.79.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Bank of America raised its price target on Amazon and kept a Buy rating, citing improving domestic sales trends and stronger momentum in the company’s core businesses. BofA Raises its Price Target on Amazon.com (AMZN)
• Positive Sentiment: BNP Paribas said Amazon’s valuation looks attractive ahead of Q2 earnings and maintained an Outperform rating, reinforcing optimism that the company can deliver solid cloud and retail results. Amazon’s Valuation Looks Attractive Ahead of Earnings: Analyst
• Positive Sentiment: Analysts and recent coverage continue to frame Amazon as a key AI winner, with AWS, custom chips, and related infrastructure spending seen as important long-term growth drivers. Debt Raise Is a Positive Signal for Amazon Stock, Says Needham
• Positive Sentiment: Amazon completed a $24.9 billion long-term bond sale to help fund AI infrastructure, which investors are treating as evidence that management is aggressively investing to extend AWS’s competitive edge. Amazon Issues $24.9 Billion in Long-Term Notes
• Neutral Sentiment: Commentary on Amazon’s AI shopping, Alexa, and broadband initiatives adds to the long-term growth narrative, but these stories are not immediate earnings drivers. Amazon and Walmart’s AI Shopping Race Is Now a Battle for Context, Not Clicks
• Negative Sentiment: Some investors remain cautious because Amazon’s AI buildout requires heavy capital spending, which could pressure free cash flow and keep the stock volatile heading into earnings. Amazon’s $25 billion ‘surprise’ bond sale dangled extra yield to lure in buyers—and flashed a warning sign about the AI boom
• Negative Sentiment: Recent insider selling and broader concern about the payoff timing of massive AI spending may limit upside in the near term, even if the long-term thesis remains intact. Amazon’s New Debt Deal Puts Its AI Spending Story on Trial

Amazon.com Trading Up 1.4%

Shares of AMZN stock opened at $247.04 on Friday. Amazon.com, Inc. has a 12-month low of $196.00 and a 12-month high of $278.56. The company has a market capitalization of $2.66 trillion, a P/E ratio of 29.55, a P/E/G ratio of 1.82 and a beta of 1.46. The firm has a 50-day moving average price of $253.39 and a 200 day moving average price of $235.23. The company has a quick ratio of 1.01, a current ratio of 1.18 and a debt-to-equity ratio of 0.27.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share for the quarter, topping the consensus estimate of $1.63 by $1.15. The firm had revenue of $181.52 billion for the quarter, compared to analysts' expectations of $177.28 billion. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The company's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. Research analysts forecast that Amazon.com, Inc. will post 7.75 earnings per share for the current fiscal year.

Insider Activity at Amazon.com

In other news, SVP David Zapolsky sold 9,270 shares of the company's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the transaction, the senior vice president owned 41,190 shares of the company's stock, valued at $11,060,750.70. This represents a 18.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Douglas J. Herrington sold 27,500 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $275.00, for a total transaction of $7,562,500.00. Following the completion of the transaction, the chief executive officer directly owned 471,361 shares in the company, valued at $129,624,275. This trade represents a 5.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 195,774 shares of company stock worth $51,643,704. Company insiders own 8.90% of the company's stock.

Amazon.com Profile

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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