Peregrine Capital Management LLC Sells 26,862 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Peregrine Capital Management LLC lessened its stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 676,084 shares of the e-commerce giant's stock after selling 26,862 shares during the quarter. Amazon.com makes up approximately 4.3% of Peregrine Capital Management LLC's portfolio, making the stock its biggest position. Peregrine Capital Management LLC's holdings in Amazon.com were worth $128,632,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Tallon Kerry Patrick purchased a new stake in Amazon.com in the fourth quarter worth $800,000. LaFleur & Godfrey LLC lifted its stake in Amazon.com by 1.8% in the fourth quarter. LaFleur & Godfrey LLC now owns 49,407 shares of the e-commerce giant's stock worth $10,839,000 after acquiring an additional 860 shares during the period. Brighton Jones LLC lifted its stake in Amazon.com by 10.9% in the fourth quarter. Brighton Jones LLC now owns 4,036,091 shares of the e-commerce giant's stock worth $885,478,000 after acquiring an additional 397,007 shares during the period. Revolve Wealth Partners LLC lifted its stake in Amazon.com by 4.1% in the fourth quarter. Revolve Wealth Partners LLC now owns 25,045 shares of the e-commerce giant's stock worth $5,495,000 after acquiring an additional 986 shares during the period. Finally, Bank Pictet & Cie Europe AG lifted its stake in Amazon.com by 2.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,016,869 shares of the e-commerce giant's stock worth $442,481,000 after acquiring an additional 54,987 shares during the period. Hedge funds and other institutional investors own 72.20% of the company's stock.

Amazon.com Stock Up 0.6%

Shares of AMZN stock traded up $1.35 during mid-day trading on Monday, hitting $232.79. The stock had a trading volume of 26,233,111 shares, compared to its average volume of 35,876,868. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 37.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.33. The firm's 50-day moving average is $216.19 and its two-hundred day moving average is $208.82. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The e-commerce giant reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $155.67 billion during the quarter, compared to analysts' expectations of $154.96 billion. Amazon.com had a return on equity of 24.14% and a net margin of 10.14%. The firm's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. On average, analysts predict that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMZN shares. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $235.00 price target on shares of Amazon.com in a research note on Thursday, July 10th. Citizens Jmp started coverage on Amazon.com in a research note on Thursday, July 10th. They issued a "strong-buy" rating for the company. Bank of America raised their price target on Amazon.com from $248.00 to $265.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada dropped their price target on Amazon.com from $235.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Wells Fargo & Company raised their price objective on Amazon.com from $201.00 to $238.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $254.71.

Insider Buying and Selling

In other Amazon.com news, insider Jeffrey P. Bezos sold 2,643,142 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $230.43, for a total value of $609,059,211.06. Following the completion of the sale, the insider directly owned 883,779,901 shares in the company, valued at approximately $203,649,402,587.43. This trade represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 25,102,037 shares of company stock valued at $5,674,871,223 in the last three months. Company 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.