Bright Futures Wealth Management LLC. Has $3.19 Million Stake in Amazon.com, Inc. (NASDAQ:AMZN)

Bright Futures Wealth Management LLC. trimmed its holdings in Amazon.com, Inc. (NASDAQ:AMZN) by 63.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,465 shares of the e-commerce giant’s stock after selling 22,904 shares during the quarter. Amazon.com accounts for approximately 2.9% of Bright Futures Wealth Management LLC.’s investment portfolio, making the stock its 6th biggest holding. Bright Futures Wealth Management LLC.’s holdings in Amazon.com were worth $3,192,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Rench Wealth Management Inc. raised its position in shares of Amazon.com by 7.9% in the third quarter. Rench Wealth Management Inc. now owns 50,403 shares of the e-commerce giant’s stock worth $9,392,000 after buying an additional 3,703 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Amazon.com by 9.7% in the third quarter. Foundations Investment Advisors LLC now owns 184,594 shares of the e-commerce giant’s stock valued at $34,395,000 after purchasing an additional 16,392 shares in the last quarter. Blankinship & Foster LLC lifted its position in Amazon.com by 216.4% during the third quarter. Blankinship & Foster LLC now owns 6,930 shares of the e-commerce giant’s stock valued at $1,291,000 after purchasing an additional 4,740 shares during the last quarter. Umpqua Bank grew its stake in Amazon.com by 0.4% in the 3rd quarter. Umpqua Bank now owns 35,120 shares of the e-commerce giant’s stock worth $6,544,000 after buying an additional 137 shares in the last quarter. Finally, One Wealth Capital Management LLC bought a new position in shares of Amazon.com in the 4th quarter worth $4,270,000. 72.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Amazon.com

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

Amazon.com Trading Up 1.2 %

Shares of NASDAQ:AMZN opened at $198.89 on Thursday. Amazon.com, Inc. has a 1 year low of $151.61 and a 1 year high of $242.52. The stock’s fifty day moving average price is $222.71 and its 200-day moving average price is $207.20. The company has a market cap of $2.11 trillion, a P/E ratio of 35.97, a PEG ratio of 1.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.06 and a quick ratio of 0.87.

Amazon.com (NASDAQ:AMZN) last announced its quarterly earnings results 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%. Sell-side analysts expect that Amazon.com, Inc. will post 6.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Piper Sandler reiterated an “overweight” rating and issued a $265.00 price objective (up from $225.00) on shares of Amazon.com in a report on Friday, February 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $270.00 price objective on shares of Amazon.com in a report on Friday, February 7th. Loop Capital lifted their price target on shares of Amazon.com from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, Citigroup reiterated a “buy” rating on shares of Amazon.com in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Amazon.com presently has an average rating of “Moderate Buy” and an average target price of $260.65.

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.