Stock market today: S&P 500 climbs as health care, tech gain; Nvidia earnings loom
Douglas J. Herrington, CEO of Worldwide Amazon Stores, has sold 2,500 shares of Amazon.com Inc. (NASDAQ:AMZN) common stock. The sale comes as the tech giant, with its $1.89 trillion market cap, maintains a GREAT financial health score according to InvestingPro analysis. The shares were sold on April 1, 2025, at a price of $187.99 each, totaling approximately $469,975. This transaction was conducted under a Rule 10b5-1 trading plan that Herrington adopted on November 7, 2024. The sale price represents a premium to the current trading level, with Amazon stock trading at a P/E ratio of 31.6x and showing strong revenue growth of 11% over the last twelve months.
Following the sale, Herrington retains direct ownership of 509,474 shares. Additionally, he holds 6,587.798 shares indirectly through an Amazon.com 401(k) plan account. With Amazon’s next earnings report scheduled for April 24, 2025, investors can access comprehensive insider trading analysis and 10+ additional key insights through InvestingPro’s detailed research reports.
In other recent news, Amazon is preparing for the launch of its Project Kuiper broadband satellites, marking a significant milestone in its mission to provide global internet coverage. The first full-scale batch of 27 satellites is set to be deployed from Cape Canaveral, Florida, with plans for over 3,200 satellites in total. Meanwhile, Mizuho (NYSE:MFG) Securities has maintained its Outperform rating on Amazon, with a price target of $285, despite some softening in customer sentiment for Amazon Web Services due to macroeconomic concerns. Analysts at Mizuho expect AWS revenue growth to strengthen later in the year.
Patreon has launched a new podcast network program in collaboration with Sony (NYSE:SONY) Music and Amazon’s Wondery, aiming to enhance fan interaction and provide exclusive benefits. This initiative follows a year where podcasters on Patreon earned over $472 million, making it the platform’s highest-earning category. Additionally, IonQ has announced the availability of its Forte Enterprise quantum computer on Amazon Braket, a service from Amazon Web Services, which is expected to facilitate the development of commercial applications across various industries. This collaboration reflects IonQ’s efforts to expand its global data center footprint and make quantum computing more accessible.
In other developments, Tesla (NASDAQ:TSLA) has seen a rise in premarket trading, although its car sales in France experienced a 37% drop in March, part of a larger decline in Europe. The Magnificent Seven stocks, including Amazon, have generally seen a decline this year, following a significant rise in 2024.
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