Jeff Bezos Sells $666 Million Of Amazon Stock (AMZN) | Markets Insider

Published 2 days ago• 2 minute read

Amazon (AMZN) founder Jeff Bezos has sold nearly three million shares of the e-commerce company’s stock worth $665.8 million.

A regulatory filing with the U.S. Securities and Exchange Commission (SEC) shows that Bezos has been unloading Amazon stock since the beginning of July. The latest stock sale is part of a plan announced earlier this year that will see Bezos sell up to 25 million shares of AMZN stock through May 2026.

Bezos, who stepped down as Amazon’s CEO in 2021, sold $736.7 million of stock during the final days of June this year. The latest stock sale comes shortly after Bezos’ $50 million high-profile wedding to Lauren Sanchez in Venice, Italy.

The wedding was a star-studded affair with celebrities such as Bill Gates and Oprah Winfrey in attendance. Despite the latest stock sales, Bezos still has more than 900 million shares of Amazon valued at close to $200 billion.

Bezos remains the largest shareholder of Amazon and continues to serve as the company’s board chairman. AMZN stock is up 2% on the year and trading at $222.91 per share.

AMZN stock has a consensus Strong Buy rating among 46 Wall Street analysts. That rating is based on 45 Buy and one Hold recommendations assigned in the last three months. The average Amazon price target of $246.60 implies 10.75% upside from current levels.