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

Thrive Wealth Management LLC lowered its stake in Amazon.com, Inc. (NASDAQ:AMZN) by 1.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,700 shares of the e-commerce giant’s stock after selling 318 shares during the period. Amazon.com makes up 0.8% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Thrive Wealth Management LLC’s holdings in Amazon.com were worth $4,322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AMZN. Icon Wealth Advisors LLC boosted its holdings in shares of Amazon.com by 20.5% in the 3rd quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant’s stock valued at $28,000 after acquiring an additional 25,581 shares during the last quarter. Hoese & Co LLP purchased a new stake in Amazon.com in the third quarter valued at $37,000. Bull Oak Capital LLC acquired a new stake in Amazon.com during the 3rd quarter worth about $45,000. Values First Advisors Inc. purchased a new position in shares of Amazon.com during the 3rd quarter valued at about $56,000. Finally, IFS Advisors LLC lifted its holdings in shares of Amazon.com by 1,625.0% in the 4th quarter. IFS Advisors LLC now owns 345 shares of the e-commerce giant’s stock valued at $76,000 after buying an additional 325 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amazon.com

In other Amazon.com news, CEO Douglas J. Herrington sold 3,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the transaction, the chief executive officer now directly owns 524,567 shares in the company, valued at $110,159,070. This represents a 0.66 % 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. Also, Director Jonathan Rubinstein sold 4,351 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $229.85, for a total value of $1,000,077.35. Following the transaction, the director now owns 88,203 shares of the company’s stock, valued at approximately $20,273,459.55. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,027,340 shares of company stock worth $1,252,456,773 over the last quarter. 10.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler raised their target price on Amazon.com from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. The Goldman Sachs Group lifted their target price on shares of Amazon.com from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets reissued an “outperform” rating and set a $236.00 price target on shares of Amazon.com in a report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Amazon.com in a report on Tuesday, January 21st. Finally, Monness Crespi & Hardt raised their target price on Amazon.com from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.56.

Amazon.com Trading Up 2.0 %

AMZN opened at $242.06 on Wednesday. The stock has a market capitalization of $2.55 trillion, a PE ratio of 51.83, a P/E/G ratio of 1.35 and a beta of 1.15. Amazon.com, Inc. has a one year low of $151.61 and a one year high of $242.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.87 and a current ratio of 1.09. The business’s 50 day moving average price is $224.55 and its 200 day moving average price is $199.36.

Amazon.com Profile

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.