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Amazon Insider Selling Amidst Strong Growth
1 Sep
Summary
- Investment firm trimmed Amazon stake by 2.3%.
- Amazon reported $200.6 billion in revenue last quarter.
- AWS revenue grew 36.7% to $42.2 billion.
Capital Investment Services of America has notably trimmed its stake in Amazon.com, selling 2,975 shares in the second quarter, a reduction of 2.3%. This adjustment leaves the firm with 126,495 shares valued at approximately $30.1 million.
This move occurs while institutional investors collectively maintain a significant presence, holding about 72.2% of Amazon's shares. Over the past 90 days, company insiders have also divested shares worth roughly $18.3 million.
Despite these sales, Wall Street's attention remains fixed on Amazon's robust operating performance. The company recently announced second-quarter revenue of $200.6 billion, marking a 19.6% increase compared to the previous year. Amazon Web Services (AWS) was a significant growth driver, with its revenue climbing 36.7% to $42.2 billion.
Amazon also surpassed analyst expectations by reporting quarterly earnings per share of $5.75, significantly higher than the $1.82 estimate. The strong AWS growth and overall earnings momentum continue to be viewed as key factors supporting Amazon's share value.
