Perennial Advisors LLC Makes New $18.75 Million Investment in Amazon.com, Inc. (NASDAQ:AMZN)

Perennial Advisors LLC bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 85,462 shares of the e-commerce giant’s stock, valued at approximately $18,750,000. Amazon.com makes up approximately 4.1% of Perennial Advisors LLC’s portfolio, making the stock its 4th largest position.

A number of other large investors have also recently made changes to their positions in AMZN. Castlekeep Investment Advisors LLC purchased a new stake in Amazon.com during the 4th quarter worth approximately $25,000. Accordant Advisory Group Inc boosted its stake in Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in Amazon.com during the fourth quarter worth about $27,000. LSV Asset Management purchased a new position in Amazon.com in the fourth quarter worth approximately $35,000. Finally, Perritt Capital Management Inc raised its holdings in Amazon.com by 72.7% in the 4th quarter. Perritt Capital Management Inc now owns 190 shares of the e-commerce giant’s stock valued at $42,000 after buying an additional 80 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMZN. Morgan Stanley reduced their price target on shares of Amazon.com from $280.00 to $245.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Wedbush reiterated an “outperform” rating and issued a $235.00 price target (up previously from $225.00) on shares of Amazon.com in a research report on Friday, May 2nd. Citigroup reaffirmed an “outperform” rating on shares of Amazon.com in a research report on Friday, May 2nd. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective on shares of Amazon.com in a research note on Friday, May 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Amazon.com from $207.00 to $203.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and forty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.89.

Amazon.com Stock Up 0.3%

Shares of NASDAQ AMZN opened at $207.91 on Friday. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The firm’s 50-day simple moving average is $191.41 and its 200 day simple moving average is $208.65. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. The company has a market cap of $2.21 trillion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.

Amazon.com (NASDAQ:AMZN) last posted its quarterly earnings results 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. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. The business had revenue of $155.67 billion during the quarter, compared to the consensus estimate of $154.96 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. Amazon.com’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $187.99, for a total value of $469,975.00. Following the completion of the sale, the chief executive officer now owns 509,474 shares of the company’s stock, valued at approximately $95,776,017.26. This represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 2,695 shares of the firm’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $200.79, for a total value of $541,129.05. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company’s stock, valued at approximately $24,050,626.20. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,037 shares of company stock valued at $20,531,075. Corporate insiders own 9.70% 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.