Wealthsource Partners LLC Sells 2,304 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Wealthsource Partners LLC lowered its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,088 shares of the e-commerce giant’s stock after selling 2,304 shares during the quarter. Amazon.com makes up approximately 0.5% of Wealthsource Partners LLC’s investment portfolio, making the stock its 27th largest holding. Wealthsource Partners LLC’s holdings in Amazon.com were worth $7,242,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its holdings in shares of Amazon.com by 4,540.0% in the second quarter. Iron Horse Wealth Management LLC now owns 232 shares of the e-commerce giant’s stock worth $25,000 after acquiring an additional 227 shares during the period. Wells Financial Advisors INC boosted its stake in Amazon.com by 1,900.0% in the 2nd quarter. Wells Financial Advisors INC now owns 280 shares of the e-commerce giant’s stock worth $30,000 after purchasing an additional 266 shares during the period. Knott David M Jr purchased a new position in Amazon.com during the 2nd quarter valued at about $32,000. Laurel Wealth Planning LLC increased its position in shares of Amazon.com by 1,900.0% during the second quarter. Laurel Wealth Planning LLC now owns 320 shares of the e-commerce giant’s stock valued at $34,000 after buying an additional 304 shares during the period. Finally, Baron Financial Group LLC lifted its holdings in shares of Amazon.com by 1,900.0% in the second quarter. Baron Financial Group LLC now owns 360 shares of the e-commerce giant’s stock worth $38,000 after buying an additional 342 shares in the last quarter. 57.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Amazon.com from $160.00 to $142.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Wells Fargo & Company lowered their price objective on Amazon.com from $155.00 to $145.00 in a research report on Friday, February 3rd. Barclays lifted their price objective on Amazon.com from $130.00 to $150.00 in a research note on Friday, February 3rd. JPMorgan Chase & Co. raised their price target on Amazon.com from $130.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, Tigress Financial reiterated a “buy” rating and set a $192.00 price target on shares of Amazon.com in a research report on Thursday, February 9th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and forty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.87.

Amazon.com Price Performance

Shares of AMZN stock opened at $94.88 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.72 and a current ratio of 0.94. Amazon.com, Inc. has a fifty-two week low of $81.43 and a fifty-two week high of $170.83. The firm has a market cap of $972.26 billion, a P/E ratio of -351.41, a P/E/G ratio of 3.74 and a beta of 1.25. The business’s 50 day moving average price is $96.20 and its 200-day moving average price is $101.99.

Amazon.com (NASDAQ:AMZN – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The e-commerce giant reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.12). Amazon.com had a negative net margin of 0.53% and a positive return on equity of 5.33%. The company had revenue of $149.20 billion during the quarter, compared to the consensus estimate of $145.72 billion. During the same quarter last year, the firm earned $1.39 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, equities research analysts anticipate that Amazon.com, Inc. will post 1.34 earnings per share for the current year.

Insider Activity

In related news, CEO Adam Selipsky sold 5,100 shares of the stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $111.43, for a total value of $568,293.00. Following the completion of the transaction, the chief executive officer now directly owns 124,180 shares of the company’s stock, valued at $13,837,377.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Adam Selipsky sold 5,100 shares of the stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $111.43, for a total value of $568,293.00. Following the completion of the transaction, the chief executive officer now owns 124,180 shares of the company’s stock, valued at approximately $13,837,377.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Andrew R. Jassy sold 23,874 shares of Amazon.com stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $99.15, for a total value of $2,367,107.10. Following the sale, the chief executive officer now owns 1,964,506 shares in the company, valued at $194,780,769.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,394 shares of company stock valued at $6,994,626. Corporate insiders own 12.70% of the company’s stock.

Amazon.com Company Profile

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Amazon.com, Inc is a multinational technology company, which engages in the provision of online retail shopping services. It operates through the following segments: North America, International, and Amazon Web Services (AWS). The North America segment is involved in the retail sales of consumer products including from sellers and subscriptions through North America-focused online and physical stores.