Stock

: Jeff Bezos bought $ 6.7 billion price of Amazon inventory final week

Jeff Bezos, chief executive of Amazon.com Inc., last week sold approximately $ 6.7 billion worth of shares in his company. This is his largest concentrated sale of shares since his divorce.

According to the Securities and Exchange Commission, Bezos sold approximately 1.48 million shares in separate transactions from May 3-6 for $ 4.91 billion in proceeds. This is evident from tables from the Dow Jones Market Data Group. Another 521,936 shares, valued at approximately $ 1.7 billion, were sold Friday and Monday, according to SEC filings. In total, he sold a little over 2 million shares from May 3rd to May 10th. The share sales were determined through a 10b5-1 trading plan according to the filing.

Bezos has recently made a habit of selling large tranches of stocks not long after Amazon
AMZN,
+ 1.05%
reports profit. Last week, Amazon announced that its first quarter earnings tripled year over year and forecast revenue of over $ 110 billion for the second quarter. This is expected to be the last full quarter with Bezos as CEO. Earlier this year, Bezos said he would step down in the third quarter to become executive chairman of Amazon.

However, previous sales haven't been as high, nearing $ 3 billion to $ 4 billion, for example, such as in November and February 2020. This appears to be the largest Amazon stock divestment for Bezos since he sold billions of shares for his ex – Ms. MacKenzie Bezos during her divorce.

Last year, Bezos sold more than $ 9 billion in total in Amazon stock, and he previously said about $ 1 billion goes to his rocket startup Blue Origin every year. Bezos – the richest person in the world according to the Bloomberg Billionaires Index, with a net worth of around $ 191 billion – still holds around 51.7 million Amazon shares, according to the week's final SEC filing.

Amazon stocks
AMZN,
+ 1.05%
There was a decline in four of the five trading sessions last week. This corresponds to a weekly decrease of 5.1%. This is the stock's worst weekly performance since the week ending November 13th. That week, Bezos sold billions of dollars worth of shares, and stocks fell more than 5%. Amazon stock is down 1% in 2021, but down 37% over the past 12 months compared to the S&P 500
SPX,
-0.87%
45% growth last year.

This article has been updated and more sales posted after its initial publication.

Related Articles