Perennial Investment Advisors LLC Grows Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

Perennial Investment Advisors LLC increased its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 2.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 63,762 shares of the e-commerce giant’s stock after purchasing an additional 1,606 shares during the quarter. Amazon.com makes up about 1.8% of Perennial Investment Advisors LLC’s investment portfolio, making the stock its 11th largest position. Perennial Investment Advisors LLC’s holdings in Amazon.com were worth $12,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Amazon.com by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 785,811,114 shares of the e-commerce giant’s stock valued at $141,744,609,000 after purchasing an additional 14,724,687 shares during the last quarter. Capital Research Global Investors raised its stake in Amazon.com by 8.5% in the 1st quarter. Capital Research Global Investors now owns 86,982,857 shares of the e-commerce giant’s stock valued at $15,689,968,000 after purchasing an additional 6,810,145 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Amazon.com by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 67,745,972 shares of the e-commerce giant’s stock valued at $13,091,909,000 after purchasing an additional 289,532 shares during the last quarter. Jennison Associates LLC raised its stake in Amazon.com by 0.5% in the 1st quarter. Jennison Associates LLC now owns 56,666,183 shares of the e-commerce giant’s stock valued at $10,221,446,000 after purchasing an additional 295,132 shares during the last quarter. Finally, Capital International Investors raised its stake in Amazon.com by 7.4% in the 1st quarter. Capital International Investors now owns 42,370,172 shares of the e-commerce giant’s stock valued at $7,642,732,000 after purchasing an additional 2,932,192 shares during the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP David Zapolsky sold 2,190 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total transaction of $427,050.00. Following the completion of the transaction, the senior vice president now directly owns 62,420 shares in the company, valued at approximately $12,171,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Douglas J. Herrington sold 3,500 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $189.25, for a total transaction of $662,375.00. Following the transaction, the chief executive officer now directly owns 503,753 shares in the company, valued at $95,335,255.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP David Zapolsky sold 2,190 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $195.00, for a total value of $427,050.00. Following the transaction, the senior vice president now owns 62,420 shares in the company, valued at $12,171,900. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 54,355 shares of company stock worth $9,877,423. 10.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company downgraded shares of Amazon.com from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $225.00 to $183.00 in a research note on Monday, October 7th. Maxim Group upped their price objective on shares of Amazon.com from $238.00 to $251.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Amazon.com from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. TD Cowen upped their price objective on shares of Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein upped their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.78.

Amazon.com Stock Performance

Amazon.com stock opened at $187.53 on Friday. The stock has a market cap of $1.95 trillion, a P/E ratio of 52.53, a price-to-earnings-growth ratio of 1.38 and a beta of 1.14. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $181.54 and a 200-day moving average of $183.35. Amazon.com, Inc. has a 52 week low of $118.35 and a 52 week high of $201.20.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, August 1st. The e-commerce giant reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $147.98 billion during the quarter, compared to analysts’ expectations of $148.63 billion. Amazon.com had a return on equity of 21.39% and a net margin of 7.35%. On average, analysts expect that Amazon.com, Inc. will post 4.85 EPS for the current fiscal year.

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.