Thrive Wealth Management LLC Boosts Stock Position in Amazon.com, Inc. (NASDAQ:AMZN)

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Thrive Wealth Management LLC lifted its holdings in Amazon.com, Inc. (NASDAQ:AMZNGet Rating) by 2,008.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,628 shares of the e-commerce giant’s stock after purchasing an additional 10,124 shares during the quarter. Thrive Wealth Management LLC’s holdings in Amazon.com were worth $1,129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gibson Wealth Advisors LLC purchased a new position in shares of Amazon.com in the fourth quarter valued at $33,000. MBM Wealth Consultants LLC grew its holdings in shares of Amazon.com by 57.1% in the fourth quarter. MBM Wealth Consultants LLC now owns 11 shares of the e-commerce giant’s stock valued at $37,000 after purchasing an additional 4 shares in the last quarter. William Allan LLC purchased a new position in shares of Amazon.com in the fourth quarter valued at $47,000. Cardinal Capital Management Inc. purchased a new position in shares of Amazon.com in the first quarter valued at $49,000. Finally, Security Financial Services INC. purchased a new position in shares of Amazon.com in the fourth quarter valued at $57,000. 57.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Loop Capital dropped their price objective on shares of Amazon.com from $187.50 to $141.25 and set a “buy” rating for the company in a research note on Friday, May 27th. Evercore ISI dropped their price objective on shares of Amazon.com from $205.00 to $180.00 and set an “outperform” rating for the company in a research note on Friday, June 24th. Credit Suisse Group dropped their price objective on shares of Amazon.com from $185.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, July 26th. Cowen lifted their price objective on shares of Amazon.com from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Amazon.com from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.61.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 520 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $127.43, for a total transaction of $66,263.60. Following the sale, the chief executive officer now owns 115,680 shares in the company, valued at $14,741,102.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Andrew R. Jassy sold 23,620 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $142.29, for a total value of $3,360,889.80. Following the sale, the chief executive officer now owns 1,892,000 shares in the company, valued at $269,212,680. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam Selipsky sold 520 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $127.43, for a total value of $66,263.60. Following the completion of the sale, the chief executive officer now owns 115,680 shares in the company, valued at approximately $14,741,102.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,628 shares of company stock worth $9,802,599. Insiders own 12.70% of the company’s stock.

Amazon.com Price Performance

AMZN opened at $122.19 on Wednesday. Amazon.com, Inc. has a 1 year low of $101.26 and a 1 year high of $188.11. The firm has a market capitalization of $1.24 trillion, a PE ratio of 109.54, a price-to-earnings-growth ratio of 5.51 and a beta of 1.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.95 and a quick ratio of 0.68. The business’s 50-day moving average is $129.77 and its two-hundred day moving average is $130.45.

Amazon.com (NASDAQ:AMZNGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The e-commerce giant reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.35). Amazon.com had a return on equity of 15.79% and a net margin of 2.39%. The business had revenue of $121.23 billion for the quarter, compared to analysts’ expectations of $119.16 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. Amazon.com’s revenue was up 7.2% on a year-over-year basis. Research analysts anticipate that Amazon.com, Inc. will post 0.99 earnings per share for the current fiscal year.

About Amazon.com

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Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It sells merchandise and content purchased for resale from third-party sellers through physical and online stores.

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