Gold bars to be exempt from tariffs, White House clarifies
Matthew S. Garman, CEO of Amazon Web Services, recently divested a significant portion of his holdings in Amazon.com Inc. (NASDAQ:AMZN), a $2.25 trillion market cap company that generated $638 billion in revenue last year. According to a Form 4 filing with the Securities and Exchange Commission, Garman sold a total of 15,240 shares of Amazon stock on February 21, 2025. The sales were executed at prices ranging from $219.046 to $222.7926 per share, resulting in a total transaction value of approximately $3.36 million.
Following these transactions, Garman no longer holds any shares directly under this category, although he retains ownership of 334,021 shares in the form of Restricted Stock Units (RSUs) and 887.52 shares through an Amazon.com 401(k) Plan Account. The sales were conducted in accordance with a pre-established Rule 10b5-1 trading plan.
In other recent news, Amazon.com Inc. announced the formation of a joint venture with Amazon MGM Studios to manage the intellectual property rights of the James Bond franchise. This partnership, involving Michael G. Wilson and Barbara Broccoli, will see Amazon MGM Studios gain creative control over the franchise. Meanwhile, Truist Securities maintained a Buy rating on Amazon shares with a $265 price target, highlighting the company’s strong North American revenue performance and upcoming AI-powered Alexa devices. Cantor Fitzgerald also reaffirmed an Overweight rating, with a $270 target, noting the potential impact of Anthropic on Amazon Web Services (AWS) revenue. Anthropic, a major AWS customer, is expected to contribute significantly to AWS’s revenues in the coming years. TD Cowen reiterated a Buy rating and $265 target for Amazon, focusing on AWS’s anticipated GenAI revenue growth and related capital expenditures. The firm projects AWS’s GenAI revenue to rise substantially by 2030, contributing significantly to Amazon’s total revenue. These developments reflect Amazon’s strategic moves in expanding its AI capabilities and cloud services.
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