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SEATTLE – Jonathan Rubinstein, CEO of Amazon.com Inc. (NASDAQ:), recently sold 4,549 shares of the company’s common stock. The transaction, which took place on 12/04/2023, was executed at a price of $219.85 per share, giving a total sale value of approximately $1,000,097.
Following this transaction, Rubinstein retains ownership of 92,554 Amazon shares. The sale was made pursuant to a Rule 10b5-1 trading plan that Rubinstein had previously approved on 05/15/2024. This mechanism allows managers of listed companies to establish a predetermined schedule for the sale of shares, thus providing a safeguard against possible accusations of insider trading.
The transaction was notified to the Securities and Exchange Commission (SEC) on 12/06/2023, underscoring Rubinstein’s continued compliance with regulatory requirements.
In other recent industry news, Walmart, Amazon and Chinese e-commerce companies Shein and PDD Holding’s Temu reported record sales during Black Friday and Cyber Monday, with Walmart and Amazon seeing notable increases. Analyst firm Piper Sandler’s CIO 2025 survey revealed promising prospects for information technology spending, particularly for security, IT services and application software. Microsoft and Snowflake were identified as companies that could benefit from this trend.
Elsewhere, Amazon shares received a Buy rating from BofA Securities, based on projected revenue acceleration for Amazon Web Services (AWS) in 2025. AWS’s recent advances, including the release of Amazon Nova Foundation Models, were highlighted and Amazon Q Developers.
JPMorgan reaffirmed Amazon as its top stock pick, reflecting confidence in the company’s strong holiday sales and its future growth prospects. Likewise, Susquehanna maintained a bullish view on Amazon stock, influenced in part by the company’s new line of Amazon Nova foundation models.
These recent developments affect Walmart, Amazon and Microsoft, three of the most influential giants in today’s technology and e-commerce landscape.
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