Jeff Bezos recently made headlines by divesting 1.07 million shares of Amazon stock at a price of $200.07 per share, resulting in a substantial windfall of approximately $213.8 million. Despite this sale, Bezos still retains a sizable ownership stake in the e-commerce giant, with 926.41 million shares remaining in his possession, as disclosed in a filing with the U.S. Securities and Exchange Commission. It's worth noting that Bezos isn't the only insider within Amazon who has been offloading shares, as Director Jonathan Rubinstein and CEO of Worldwide Amazon Stores, Douglas Herrington, have also engaged in significant selling of Amazon stock.
Analysts continue to view Amazon's stock as an attractive investment opportunity, with Bernstein analyst Mark Shmulik maintaining a positive outlook on the company and issuing an "Outperform" rating along with a $235 price target. Shmulik's optimism is fueled by Amazon's projected strong performance and growth trajectory, despite ongoing infrastructure investments. The company's financial results have indeed been impressive, with Amazon reporting third-quarter net sales exceeding expectations at $158.9 billion, signifying an 11% year-over-year increase. This stellar performance has not gone unnoticed in the investment community, as noted by the interest shown by notable investor Cathie Wood in making significant trades involving Amazon stock.
As a result of Amazon's robust financial performance and promising outlook, the company's stock price has experienced a notable uptick, with positive market reactions following the earnings report. Amazon's stock closed at $199.50 on Tuesday, registering a day-time increase of 1.90%, although it saw a slight decline of 0.20% in after-hours trading. Year-to-date, Amazon's stock has exhibited significant growth, boasting a 33.06% increase, as per data sourced from Benzinga Pro.