Amazon.com, Inc. (NASDAQ:AMZN) Holdings Cut by Total Clarity Wealth Management Inc.

Posted by Defense World Staff on Aug 14th, 2023

Total Clarity Wealth Management Inc. decreased its stake in Amazon.com, Inc. (NASDAQ:AMZN – Free Report) by 9.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,879 shares of the e-commerce giant’s stock after selling 1,348 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Amazon.com were worth $1,330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USAdvisors Wealth Management LLC increased its stake in shares of Amazon.com by 12.5% during the 4th quarter. USAdvisors Wealth Management LLC now owns 3,242 shares of the e-commerce giant’s stock worth $272,000 after purchasing an additional 359 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in Amazon.com in the 4th quarter valued at $426,000. Veritas Asset Management LLP grew its stake in Amazon.com by 19.6% in the 4th quarter. Veritas Asset Management LLP now owns 7,868,621 shares of the e-commerce giant’s stock valued at $660,964,000 after buying an additional 1,286,797 shares during the last quarter. Mayfair Advisory Group LLC grew its stake in Amazon.com by 12.0% in the 1st quarter. Mayfair Advisory Group LLC now owns 4,561 shares of the e-commerce giant’s stock valued at $468,000 after buying an additional 488 shares during the last quarter. Finally, Sarasin & Partners LLP grew its stake in Amazon.com by 0.7% in the 4th quarter. Sarasin & Partners LLP now owns 2,468,455 shares of the e-commerce giant’s stock valued at $207,350,000 after buying an additional 17,993 shares during the last quarter. Hedge funds and other institutional investors own 56.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Amazon.com from $145.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. CICC Research assumed coverage on shares of Amazon.com in a research report on Sunday, July 9th. They issued an “outperform” rating on the stock. Barclays raised their price target on shares of Amazon.com from $140.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, August 7th. UBS Group raised their price target on shares of Amazon.com from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Truist Financial raised their price target on shares of Amazon.com from $144.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Two analysts have rated the stock with a hold rating and forty-seven have issued a buy rating to the stock. Based on data from MarketBeat, Amazon.com has an average rating of “Moderate Buy” and a consensus price target of $159.46.

View Our Latest Stock Report on AMZN

Amazon.com Stock Down 0.1 %

Shares of NASDAQ:AMZN opened at $138.41 on Monday. Amazon.com, Inc. has a one year low of $81.43 and a one year high of $146.57. The company has a 50 day moving average of $130.09 and a 200-day moving average of $112.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.95 and a quick ratio of 0.70. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 108.99, a P/E/G ratio of 1.90 and a beta of 1.26.

Insider Transactions at Amazon.com

In other news, CEO Adam Selipsky sold 500 shares of Amazon.com stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $126.27, for a total transaction of $63,135.00. Following the completion of the sale, the chief executive officer now owns 152,780 shares in the company, valued at approximately $19,291,530.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Andrew R. Jassy sold 21,925 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $115.37, for a total transaction of $2,529,487.25. Following the completion of the transaction, the chief executive officer now owns 1,997,681 shares in the company, valued at $230,472,456.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Adam Selipsky sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $126.27, for a total transaction of $63,135.00. Following the transaction, the chief executive officer now owns 152,780 shares of the company’s stock, valued at approximately $19,291,530.60. The disclosure for this sale can be found here. Insiders sold a total of 1,289,545 shares of company stock worth $37,421,157 in the last quarter. 12.30% of the stock is owned by company insiders.

About Amazon.com

(Free Report)

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.