Jeff Bezos Sells $214 Million in Amazon Shares: Current Holdings and Market Insights

Amazon.com Inc. (NASDAQ: AMZN) executive chair Jeff Bezos has recently sold a considerable amount of his Amazon shares. This information was revealed in a filing with the U.S. Securities and Exchange Commission.

Details of the Sale: Bezos sold approximately 1.07 million shares of Amazon stock for $200.07 each, totaling around $213.8 million. Following this transaction, he continues to hold 926.41 million shares in the company, which signifies his ongoing commitment as a major stakeholder.

Bezos is not the only executive making moves with Amazon shares. Director Jonathan Rubinstein has also recently sold shares worth $1 million. Meanwhile, Douglas Herrington, the CEO of Worldwide Amazon Stores, divested shares amounting to $696,360.

Market Reactions: According to Bernstein analyst Mark Shmulik, Amazon remains an appealing investment option. Shmulik has retained an “Outperform” rating on Amazon stock, setting a price target of $235. He highlighted Amazon's potential for growth, despite the planned infrastructure expenditures that may impact short-term performance.

Investor interest in Amazon is on the rise, with notable investor Cathie Wood recently making significant transactions involving the company's stock.

Amazon has recently reported third-quarter earnings, showcasing net sales of $158.9 billion. This figure surpassed market expectations and represents an 11% increase from the same period last year. Consequently, this strong performance has led to an increase in Amazon's stock price, especially following the earnings announcement.

Stock Performance: Shares of Amazon closed at $199.50 on Tuesday, reflecting a 1.90% increase throughout the trading day. However, during after-hours trading, the stock experienced a slight dip of 0.20%. Looking at the year in review, Amazon's stock is up by 33.06%, according to data.

Bezos, Amazon, Stocks