Thryve Wealth Management LLC Invests $2.98 Million in Amazon.com, Inc. $AMZN

Key Points

• Thryve Wealth Management opened a new position in Amazon during the fourth quarter, buying 12,898 shares valued at about $2.98 million. The stake makes Amazon the firm’s 16th-largest holding and about 1.5% of its portfolio.
• Amazon continues to attract broad institutional interest, with several other hedge funds also increasing their positions. The article notes that 72.2% of Amazon’s stock is owned by institutional investors and hedge funds.
• Recent Amazon news remains largely positive, including analyst optimism around AI and AWS growth, reports that Amazon may sell its Trainium chips to outside customers, and expectations that Prime Day will boost sales and AI shopping adoption.

Thryve Wealth Management LLC acquired a new stake in Amazon.com, Inc. (NASDAQ:AMZN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,898 shares of the e-commerce giant's stock, valued at approximately $2,977,000. Amazon.com accounts for about 1.5% of Thryve Wealth Management LLC's holdings, making the stock its 16th biggest position.

A number of other hedge funds have also recently bought and sold shares of the company. MilWealth Group LLC grew its stake in shares of Amazon.com by 79.0% in the 4th quarter. MilWealth Group LLC now owns 179 shares of the e-commerce giant's stock worth $41,000 after purchasing an additional 79 shares during the last quarter. Elkhorn Partners Limited Partnership raised its holdings in shares of Amazon.com by 900.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 200 shares of the e-commerce giant's stock worth $46,000 after purchasing an additional 180 shares in the last quarter. Fairway Wealth LLC lifted its stake in Amazon.com by 95.6% during the fourth quarter. Fairway Wealth LLC now owns 221 shares of the e-commerce giant's stock valued at $51,000 after purchasing an additional 108 shares during the last quarter. Prudent Man Investment Management Inc. lifted its stake in Amazon.com by 87.7% during the fourth quarter. Prudent Man Investment Management Inc. now owns 229 shares of the e-commerce giant's stock valued at $53,000 after purchasing an additional 107 shares during the last quarter. Finally, Bridge Generations Wealth Management LLC boosted its holdings in Amazon.com by 2,330.0% during the third quarter. Bridge Generations Wealth Management LLC now owns 243 shares of the e-commerce giant's stock worth $53,000 after buying an additional 233 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

More Amazon.com News

Here are the key news stories impacting Amazon.com this week:

• Positive Sentiment: Analysts are increasingly bullish on Amazon’s AI and cloud positioning, with multiple firms reiterating Buy ratings and highlighting AWS as a long-term growth driver. Brian Pitz Reiterates Amazon as Top Pick, Maintains Buy Rating and $355 Price Target on Strengthening AI and Cloud Positioning
• Positive Sentiment: Amazon is reportedly exploring sales of its Trainium AI chips to external data center customers, which could open a new revenue stream and deepen its challenge to Nvidia. Amazon exploring selling its custom AI chips to data center customers
• Positive Sentiment: Prime Day is approaching, and Bank of America expects the event to drive strong sales while boosting adoption of Amazon’s AI shopping tools, including Alexa for Shopping. Bank of America Lays Out Expectations Ahead of Amazon Stock’s Prime Day
• Positive Sentiment: Amazon is investing more than €10 billion to expand its European fulfillment network, signaling continued support for e-commerce capacity and logistics efficiency. Amazon Commits €10 Billion for European fulfillment network
• Neutral Sentiment: Amazon is facing EU scrutiny over whether AWS should be classified as a “gatekeeper” under the Digital Markets Act, which could increase regulatory oversight for the cloud unit. Microsoft and Amazon Face EU Digital Markets Act Scrutiny Over Cloud Dominance
• Neutral Sentiment: Amazon MGM Studios dropped the nearly finished OpenAI film “Artificial” after the companies’ broader partnership shift, a move with limited direct financial impact but notable signaling value. Luca Guadagnino’s Sam Altman, OpenAI Film ‘Artificial’ Dropped by Amazon MGM Studios
• Negative Sentiment: Amazon is also dealing with employee and public scrutiny over AI data center expansion and labor practices, which could add regulatory and reputational pressure. Amazon investigating engineers who criticized AI data center expansion

Insider Activity at Amazon.com

In other Amazon.com news, CEO Andrew R. Jassy sold 20,000 shares of Amazon.com stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $263.42, for a total transaction of $5,268,400.00. Following the completion of the sale, the chief executive officer owned 2,205,766 shares of the company's stock, valued at $581,042,879.72. This trade represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Shelley Reynolds sold 2,363 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $262.38, for a total transaction of $620,003.94. Following the transaction, the vice president owned 119,780 shares in the company, valued at approximately $31,427,876.40. This represents a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 195,774 shares of company stock worth $51,614,434. 8.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Evercore lifted their price target on shares of Amazon.com from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, April 30th. Telsey Advisory Group raised their price objective on Amazon.com from $300.00 to $315.00 and gave the stock an "outperform" rating in a research note on Thursday, April 30th. Bank of America lifted their target price on Amazon.com from $298.00 to $310.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Citizens Jmp reaffirmed a "market outperform" rating and set a $315.00 target price on shares of Amazon.com in a research report on Friday, April 10th. Finally, New Street Research boosted their target price on Amazon.com from $280.00 to $350.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Fifty-seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $312.78.

Amazon.com Price Performance

Shares of AMZN opened at $244.39 on Friday. The company has a market capitalization of $2.63 trillion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 1.83 and a beta of 1.44. Amazon.com, Inc. has a fifty-two week low of $196.00 and a fifty-two week high of $278.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.18 and a quick ratio of 1.01. The business's 50-day moving average is $256.51 and its 200-day moving average is $234.12.

Amazon.com (NASDAQ:AMZN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The e-commerce giant reported $2.78 EPS for the quarter, topping the consensus estimate of $1.63 by $1.15. Amazon.com had a net margin of 12.22% and a return on equity of 19.92%. The business had revenue of $181.52 billion during the quarter, compared to analysts' expectations of $177.28 billion. During the same period last year, the company posted $1.59 earnings per share. The firm's quarterly revenue was up 16.6% compared to the same quarter last year. Equities research analysts expect that Amazon.com, Inc. will post 7.71 EPS for the current fiscal year.

About Amazon.com

Amazon.com, Inc is a diversified technology and retail company best known for its e-commerce marketplace and broad portfolio of consumer and enterprise services. Founded by Jeff Bezos in 1994 and headquartered in Seattle, Washington, the company launched as an online bookseller and expanded into a global retail platform that sells products directly to consumers and provides a marketplace for third-party sellers. Over time Amazon has grown beyond retail into areas including cloud computing, digital media, devices and logistics.

Key businesses and offerings include Amazon's online marketplace and fulfillment services, the Amazon Prime membership program (which bundles expedited shipping with streaming and other benefits), Amazon Web Services (AWS) which supplies on-demand cloud computing and storage to businesses and public-sector customers, and a range of content and advertising services such as Prime Video and Amazon Advertising.

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