Forefront Wealth Management Inc. Acquires Shares of 36,427 Amazon.com, Inc. (NASDAQ:AMZN)

Forefront Wealth Management Inc. bought a new stake in shares of Amazon.com, Inc. (NASDAQ:AMZN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,427 shares of the e-commerce giant's stock, valued at approximately $7,992,000. Amazon.com makes up approximately 7.4% of Forefront Wealth Management Inc.'s portfolio, making the stock its 2nd biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Accordant Advisory Group Inc increased its position in shares of Amazon.com by 400.0% during the 4th quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant's stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Icon Wealth Advisors LLC lifted its position in shares of Amazon.com by 20.5% in the third quarter. Icon Wealth Advisors LLC now owns 150,661 shares of the e-commerce giant's stock valued at $28,000 after acquiring an additional 25,581 shares in the last quarter. Quattro Financial Advisors LLC grew its holdings in Amazon.com by 23.8% during the 4th quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant's stock valued at $51,000 after buying an additional 45 shares in the last quarter. Compass Planning Associates Inc bought a new stake in Amazon.com in the 4th quarter valued at $51,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Amazon.com during the fourth quarter valued at approximately $54,000. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amazon.com

In other news, CEO Douglas J. Herrington sold 2,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $187.99, for a total transaction of $469,975.00. Following the completion of the transaction, the chief executive officer now directly owns 509,474 shares of the company's stock, valued at $95,776,017.26. This represents a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shelley Reynolds sold 8,833 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $222.47, for a total value of $1,965,077.51. Following the completion of the sale, the vice president now directly owns 119,780 shares of the company's stock, valued at $26,647,456.60. This represents a 6.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,798 shares of company stock valued at $23,341,803. Corporate insiders own 10.80% of the company's stock.

Analyst Ratings Changes

AMZN has been the topic of several recent research reports. Benchmark upped their target price on shares of Amazon.com from $215.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Morgan Stanley reduced their target price on shares of Amazon.com from $280.00 to $245.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Jefferies Financial Group reduced their price target on shares of Amazon.com from $250.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday. JMP Securities cut their price target on shares of Amazon.com from $285.00 to $240.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Finally, Barclays raised their target price on Amazon.com from $235.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and forty-five have assigned a buy rating to the stock. According to data from MarketBeat, Amazon.com presently has an average rating of "Moderate Buy" and an average price target of $247.56.

Amazon.com Price Performance

Shares of NASDAQ:AMZN traded up $2.78 during midday trading on Friday, hitting $189.32. The stock had a trading volume of 26,330,076 shares, compared to its average volume of 41,918,191. The company has a quick ratio of 0.87, a current ratio of 1.06 and a debt-to-equity ratio of 0.18. Amazon.com, Inc. has a fifty-two week low of $151.61 and a fifty-two week high of $242.52. The company has a market capitalization of $2.01 trillion, a P/E ratio of 34.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.39. The company's 50-day moving average price is $194.27 and its 200-day moving average price is $207.70.

Amazon.com (NASDAQ:AMZN - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (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 predict that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

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.