Gold bars to be exempt from tariffs, White House clarifies
Amazon.com Inc. (NASDAQ:AMZN), the $2.25 trillion market cap retail giant, saw its President and CEO Andrew Jassy recently sell a substantial portion of his holdings in the company, according to a recent SEC filing. On February 21, Jassy sold shares worth approximately $4.59 million. The sales were executed at prices ranging from $219.10 to $222.88 per share, with the stock currently trading at $212.80. According to InvestingPro analysis, Amazon is currently trading slightly below its Fair Value.
The transactions were conducted as part of a pre-arranged trading plan under Rule 10b5-1, which allows executives to set up a trading plan for selling stocks they own. This plan was adopted by Jassy on November 18, 2024. The company has demonstrated strong performance, with a 21.61% return over the past year and maintains a "GOOD" financial health rating according to InvestingPro’s comprehensive analysis, which includes 12 additional key insights available to subscribers.
In addition to the sales, Jassy also acquired 51,960 shares through the exercise of stock options, although these acquisitions were at no cost, as indicated by the transaction details. Following these transactions, Jassy continues to hold over 2.1 million shares directly, along with additional shares held indirectly through a trust and a 401(k) plan account.
These transactions provide insight into the financial activities of Amazon’s top executive, offering a glimpse into how Jassy is managing his equity in the company.
In other recent news, Amazon.com Inc. has been the focus of several significant developments. Analysts at Truist Securities maintained a Buy rating for Amazon, with a price target of $265, citing strong North American revenue performance and the upcoming launch of AI-powered Alexa devices. Cantor Fitzgerald also reaffirmed an Overweight rating with a $270 target, emphasizing the potential revenue impact from Anthropic, a major Amazon Web Services (AWS) customer. TD Cowen reiterated a Buy rating with a $265 target, projecting substantial growth in AWS’s GenAI revenue, which is expected to significantly rise by 2030.
Additionally, Amazon MGM Studios announced a joint venture to manage the James Bond franchise rights, granting Amazon creative control over future productions. This move follows Amazon’s acquisition of MGM in 2022, which expanded its film and TV catalog. In parallel, Anthropic, backed by Amazon, unveiled the Claude 3.7 Sonnet AI model, aiming to enhance AI capabilities and remain competitive in the industry. These recent developments underscore Amazon’s strategic efforts in AI, cloud services, and entertainment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.