Avidian Wealth Solutions LLC Sells 37,370 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Avidian Wealth Solutions LLC decreased its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 43.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,186 shares of the e-commerce giant’s stock after selling 37,370 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Amazon.com were worth $6,412,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bridgefront Capital LLC bought a new stake in Amazon.com during the 1st quarter valued at approximately $228,000. Krane Funds Advisors LLC boosted its stake in Amazon.com by 239.1% during the 1st quarter. Krane Funds Advisors LLC now owns 78 shares of the e-commerce giant’s stock valued at $254,000 after purchasing an additional 55 shares during the period. Range Financial Group LLC bought a new stake in Amazon.com during the 1st quarter valued at approximately $258,000. My Personal CFO LLC acquired a new position in Amazon.com in the 1st quarter valued at approximately $261,000. Finally, Worth Asset Management LLC acquired a new position in Amazon.com in the 1st quarter valued at approximately $191,000. Institutional investors own 57.96% of the company’s stock.

Insider Activity at Amazon.com

In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $139.00, for a total value of $69,500.00. Following the sale, the chief executive officer now owns 103,020 shares of the company’s stock, valued at $14,319,780. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $139.00, for a total transaction of $69,500.00. Following the completion of the transaction, the chief executive officer now owns 103,020 shares in the company, valued at $14,319,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 3,100 shares of Amazon.com stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $133.87, for a total value of $414,997.00. Following the transaction, the vice president now owns 119,780 shares of the company’s stock, valued at approximately $16,034,948.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,089 shares of company stock valued at $15,479,976. 12.70% of the stock is owned by insiders.

Amazon.com Price Performance

NASDAQ:AMZN opened at $143.20 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.74 and a current ratio of 0.98. The stock’s 50-day simple moving average is $133.48 and its 200 day simple moving average is $129.01. The company has a market cap of $1.48 trillion, a P/E ratio of 74.20, a P/E/G ratio of 1.92 and a beta of 1.17. Amazon.com, Inc. has a 52-week low of $81.43 and a 52-week high of $147.29.

Analyst Ratings Changes

Several equities analysts have commented on the company. The Goldman Sachs Group cut their price target on Amazon.com from $180.00 to $175.00 in a report on Thursday, October 12th. Loop Capital upped their price target on Amazon.com from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. UBS Group cut their price target on Amazon.com from $180.00 to $178.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. TheStreet raised Amazon.com from a “c+” rating to a “b-” rating in a report on Friday, October 27th. Finally, Citigroup upped their price target on Amazon.com from $145.00 to $167.00 and gave the company a “buy” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.93.

Amazon.com Company Profile

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