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Douglas J. Herrington, CEO of Amazon Stores Worldwide, has sold 3,500 shares of Amazon.com Inc. (NASDAQ: ), according to a recent SEC filing. The shares were sold at a price of €210 each, giving a total transaction value of €735,000. The deal comes as Amazon shares are trading near their 52-week high of 220 euros, with the company’s market capitalization reaching 2.3 trillion euros.
Following this sale, Herrington retains direct ownership of 524,567 shares, with additional holdings in an Amazon.com 401(k) account. The transaction was carried out in the framework of a trading plan according to rule 10b5-1, approved on 06.11.2023.
InvestingPro data shows Amazon’s impressive 50% return over the past year, maintaining an excellent financial health score. For more in-depth insight into Amazon Managers’ trading patterns and the 31 most exclusive ProTips, consider exploring InvestingPro’s comprehensive research reports.
In other recent news, Amazon.com, Inc. has seen significant gains in its financial performance and strategic initiatives:
– BofA Securities maintained a Buy rating on Amazon based on projected acceleration in Amazon Web Services (AWS) revenue through 2025. This matches Amazon’s recent revenue growth of nearly 12%, reaching 620 billion euros last year.
– Susquehanna reaffirmed its positive stance on Amazon, maintaining a price target of €230.00.
– Amazon has made significant strides in technological advancements, launching the Amazon Nova line of foundation models and Amazon Q Developer. These tools are expected to enhance Amazon’s artificial intelligence and cloud computing capabilities.
– AWS also introduced its latest AI Trainium2 chips, which promise up to 40% better performance for the price compared to current GPU-based instances.
– JPMorgan reaffirmed Amazon as its top stock pick, reflecting confidence in the company’s strong holiday sales and promising future growth.
– Amazon has secured a licensing agreement with Adeia, marking the first time the tech giant has become an Adeia licensee. BWS Financial maintained a Buy rating on Adeia, predicting an increase in the company’s free cash flow through 2025 due to this deal.
These recent developments in Amazon’s operations and strategic decisions reflect the company’s continued expansion and diversification into various technology and business sectors.
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