Peregrine Asset Advisers Inc. Purchases 19,738 Shares of Amazon.com, Inc. $AMZN

Peregrine Asset Advisers Inc. boosted its position in Amazon.com, Inc. (NASDAQ:AMZN) by 186.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 30,337 shares of the e-commerce giant’s stock after acquiring an additional 19,738 shares during the period. Amazon.com accounts for 2.0% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 13th largest holding. Peregrine Asset Advisers Inc.’s holdings in Amazon.com were worth $7,002,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sun Financial Inc bought a new stake in shares of Amazon.com during the 4th quarter valued at about $2,298,000. MilWealth Group LLC boosted its stake in shares of Amazon.com by 79.0% during the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant’s stock valued at $41,000 after purchasing an additional 79 shares in the last quarter. KPP Advisory Services LLC boosted its stake in shares of Amazon.com by 1.1% during the 4th quarter. KPP Advisory Services LLC now owns 51,096 shares of the e-commerce giant’s stock valued at $11,794,000 after purchasing an additional 548 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of Amazon.com by 4.0% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 83,709 shares of the e-commerce giant’s stock valued at $19,322,000 after purchasing an additional 3,209 shares in the last quarter. Finally, Cypress Point Wealth Management LLC boosted its stake in shares of Amazon.com by 43.0% during the 4th quarter. Cypress Point Wealth Management LLC now owns 1,823 shares of the e-commerce giant’s stock valued at $421,000 after purchasing an additional 548 shares in the last quarter. Institutional investors own 72.20% of the company’s stock.

Amazon.com Stock Down 0.4%

Shares of Amazon.com stock opened at $265.29 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.18. The stock has a market capitalization of $2.85 trillion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46. Amazon.com, Inc. has a 52-week low of $196.00 and a 52-week high of $278.56. The company has a 50-day simple moving average of $241.79 and a two-hundred day simple moving average of $231.93.

Amazon.com (NASDAQ:AMZN) last issued its earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $1.15. The business had revenue of $181.52 billion during 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 business’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. On average, analysts anticipate that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

Trending Headlines about Amazon.com

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

• Positive Sentiment: Investor sentiment remains constructive after multiple articles highlighted Amazon’s strong AI and AWS growth potential, margin expansion case, and bullish analyst views, including recent buy/overweight ratings and price targets well above current levels. Article Title
• Positive Sentiment: Amazon’s latest quarterly revenue of $181.5 billion, up 16.6% year over year, reinforces the view that the business is still expanding at a healthy pace. Article Title
• Positive Sentiment: The stock is also being included in broader market “buy zone” and AI-leader discussions, suggesting traders still see Amazon as a favored large-cap growth name. Article Title

Insider Activity

In other news, CEO Douglas J. Herrington sold 27,500 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $129,624,275. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP David Zapolsky sold 9,270 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $268.53, for a total transaction of $2,489,273.10. Following the transaction, the senior vice president directly owned 41,190 shares of the company’s stock, valued at $11,060,750.70. The trade was a 18.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 195,774 shares of company stock valued at $51,552,494 over the last ninety days. 8.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMZN has been the topic of a number of research reports. New Street Research lifted their target price on shares of Amazon.com from $280.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Amazon.com from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of Amazon.com from $280.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wedbush dropped their price objective on shares of Amazon.com from $340.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Finally, Mizuho boosted their price objective on shares of Amazon.com from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Fifty-seven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Amazon.com presently has a consensus rating of “Moderate Buy” and an average target price of $312.66.

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.