Bright Futures Wealth Management LLC. Reduces Position in Amazon.com, Inc. (NASDAQ:AMZN)

Bright Futures Wealth Management LLC. trimmed its holdings in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) by 63.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,465 shares of the e-commerce giant's stock after selling 22,904 shares during the quarter. Amazon.com comprises about 2.9% of Bright Futures Wealth Management LLC.'s holdings, making the stock its 6th largest position. Bright Futures Wealth Management LLC.'s holdings in Amazon.com were worth $3,192,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AMZN. Accordant Advisory Group Inc increased its stake in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Quattro Financial Advisors LLC boosted its holdings in shares of Amazon.com by 23.8% in the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock worth $51,000 after purchasing an additional 45 shares in the last quarter. Bull Oak Capital LLC bought a new position in shares of Amazon.com during the 3rd quarter valued at about $45,000. Iron Horse Wealth Management LLC raised its holdings in shares of Amazon.com by 64.4% during the 4th quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant's stock valued at $63,000 after buying an additional 112 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in Amazon.com in the 3rd quarter worth approximately $56,000. 72.20% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, CEO Douglas J. Herrington sold 27,500 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $230.27, for a total transaction of $6,332,425.00. Following the completion of the transaction, the chief executive officer now directly owns 497,067 shares in the company, valued at approximately $114,459,618.09. This represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $222.47, for a total transaction of $1,965,077.51. Following the transaction, the vice president now owns 119,780 shares of the company's stock, valued at $26,647,456.60. This trade represents a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,298 shares of company stock worth $22,871,828. Company insiders own 10.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AMZN. The Goldman Sachs Group lifted their price target on shares of Amazon.com from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Citigroup reissued a "buy" rating on shares of Amazon.com in a research note on Thursday, February 13th. Maxim Group upped their price target on shares of Amazon.com from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Stifel Nicolaus lifted their price objective on Amazon.com from $245.00 to $275.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Rosenblatt Securities increased their target price on Amazon.com from $236.00 to $287.00 and gave the company a "buy" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $260.65.

Amazon.com Stock Performance

AMZN stock traded down $5.00 on Thursday, hitting $193.89. The company had a trading volume of 41,094,065 shares, compared to its average volume of 39,365,293. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 35.06, a P/E/G ratio of 1.50 and a beta of 1.19. Amazon.com, Inc. has a 12-month low of $151.61 and a 12-month high of $242.52. The company has a current ratio of 1.06, a quick ratio of 0.87 and a debt-to-equity ratio of 0.18. The stock's 50-day simple moving average is $222.71 and its 200 day simple moving average is $207.20.

Amazon.com (NASDAQ:AMZN - Get Free Report) last announced its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. As a group, equities research analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current fiscal year.

Amazon.com Company Profile

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.