Peregrine Investment Management Inc. Sells 18,300 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Peregrine Investment Management Inc. reduced its position in Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 37.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,170 shares of the e-commerce giant's stock after selling 18,300 shares during the quarter. Amazon.com makes up about 4.3% of Peregrine Investment Management Inc.'s portfolio, making the stock its 12th largest position. Peregrine Investment Management Inc.'s holdings in Amazon.com were worth $5,740,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Amazon.com by 10.9% during the 4th quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock valued at $885,478,000 after acquiring an additional 397,007 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Amazon.com by 4.1% during the 4th quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock valued at $5,495,000 after acquiring an additional 986 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Amazon.com by 2.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock valued at $442,481,000 after acquiring an additional 54,987 shares during the period. Highview Capital Management LLC DE lifted its position in shares of Amazon.com by 5.5% during the 4th quarter. Highview Capital Management LLC DE now owns 28,975 shares of the e-commerce giant's stock valued at $6,357,000 after acquiring an additional 1,518 shares during the period. Finally, Liberty Square Wealth Partners LLC acquired a new position in shares of Amazon.com during the 4th quarter valued at $2,153,000. 72.20% of the stock is owned by institutional investors.

Amazon.com Stock Up 1.4%

Amazon.com stock traded up $3.01 during mid-day trading on Wednesday, reaching $224.48. The stock had a trading volume of 27,688,120 shares, compared to its average volume of 44,812,195. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 34.20, a PEG ratio of 1.49 and a beta of 1.31. The company has a 50-day moving average price of $220.25 and a two-hundred day moving average price of $208.61. Amazon.com, Inc. has a one year low of $161.38 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.81.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The e-commerce giant reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.37. The company had revenue of $167.70 billion for the quarter, compared to analysts' expectations of $161.80 billion. Amazon.com had a net margin of 10.54% and a return on equity of 23.84%. Amazon.com's revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. On average, analysts expect that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMZN. Royal Bank Of Canada boosted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Monness Crespi & Hardt upped their price objective on shares of Amazon.com from $265.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Stifel Nicolaus upped their price objective on shares of Amazon.com from $245.00 to $262.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Wedbush upped their price objective on shares of Amazon.com from $235.00 to $250.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Amazon.com from $230.00 to $266.00 in a report on Tuesday, July 22nd. One investment analyst has rated the stock with a hold rating, forty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $262.45.

Insider Transactions at Amazon.com

In other news, insider Jeffrey P. Bezos sold 2,643,142 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $230.43, for a total transaction of $609,059,211.06. Following the sale, the insider owned 883,779,901 shares of the company's stock, valued at $203,649,402,587.43. This trade represents a 0.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Douglas J. Herrington sold 2,500 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $217.00, for a total transaction of $542,500.00. Following the sale, the chief executive officer directly owned 512,050 shares in the company, valued at approximately $111,114,850. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,101,037 shares of company stock worth $5,674,726,368. Insiders own 10.80% of the company's stock.

Amazon.com 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.