Thrive Wealth Management LLC Raises Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Thrive Wealth Management LLC increased its position in shares of Amazon.com, Inc. (NASDAQ:AMZN) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,798 shares of the e-commerce giant’s stock after buying an additional 98 shares during the period. Amazon.com comprises approximately 0.7% of Thrive Wealth Management LLC’s holdings, making the stock its 19th largest holding. Thrive Wealth Management LLC’s holdings in Amazon.com were worth $3,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Amazon.com in the 4th quarter worth $27,266,582,000. GAMMA Investing LLC boosted its position in Amazon.com by 21,420.5% during the first quarter. GAMMA Investing LLC now owns 30,245,061 shares of the e-commerce giant’s stock valued at $5,754,425,000 after purchasing an additional 30,104,520 shares in the last quarter. Capital World Investors grew its stake in Amazon.com by 36.8% in the fourth quarter. Capital World Investors now owns 65,709,496 shares of the e-commerce giant’s stock valued at $14,416,078,000 after purchasing an additional 17,681,004 shares during the last quarter. Vanguard Group Inc. raised its holdings in Amazon.com by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 823,360,597 shares of the e-commerce giant’s stock worth $180,637,081,000 after purchasing an additional 17,635,391 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of Amazon.com by 17,054.5% during the fourth quarter. Proficio Capital Partners LLC now owns 12,088,589 shares of the e-commerce giant’s stock valued at $2,652,116,000 after buying an additional 12,018,120 shares during the last quarter. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Stock Down 0.6%

Amazon.com stock opened at $214.82 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.05 and a quick ratio of 0.84. The stock has a market capitalization of $2.28 trillion, a PE ratio of 34.99, a price-to-earnings-growth ratio of 1.64 and a beta of 1.33. The business has a 50 day simple moving average of $196.86 and a 200-day simple moving average of $209.30. Amazon.com, Inc. has a 12 month low of $151.61 and a 12 month high of $242.52.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, May 1st. The e-commerce giant reported $1.59 EPS for the quarter, topping the consensus estimate of $1.38 by $0.21. The company had revenue of $155.67 billion during the quarter, compared to analyst estimates of $154.96 billion. Amazon.com had a net margin of 10.14% and a return on equity of 24.14%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. On average, analysts anticipate that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity

In other news, CEO Douglas J. Herrington sold 2,500 shares of Amazon.com 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 sale, the chief executive officer now directly owns 509,474 shares of the company’s stock, valued at $95,776,017.26. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Andrew R. Jassy sold 19,872 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $201.30, for a total value of $4,000,233.60. Following the completion of the transaction, the chief executive officer now directly owns 2,148,694 shares of the company’s stock, valued at approximately $432,532,102.20. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 102,037 shares of company stock worth $20,531,075 over the last 90 days. 10.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMZN has been the topic of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Amazon.com from $248.00 to $245.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Scotiabank cut their price target on shares of Amazon.com from $306.00 to $250.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Wedbush reiterated an “outperform” rating and set a $235.00 price objective (up previously from $225.00) on shares of Amazon.com in a report on Friday, May 2nd. Mizuho lowered their price objective on Amazon.com from $285.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, DA Davidson reduced their target price on Amazon.com from $280.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and forty-four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.89.

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.