Amazon AWS CEO Selipsky sells over $1.6 million in company stock

  • Investing.com
Amazon AWS CEO Selipsky sells over $1.6 million in company stock
Credit: © Reuters.

In a recent series of transactions, Adam Selipsky, the CEO of Amazon Web Services, has sold a significant amount of Amazon.com Inc (NASDAQ: AMZN ) stock. According to the latest filings, Selipsky sold shares totaling over $1.6 million.

The sales occurred on May 15 and May 16, with prices ranging from $183.50 to $186.18 per share. On May 15, Selipsky sold 1,748 shares at an average price of $183.50, 3,356 shares at an average price of $184.28, 2,957 shares at an average price of $185.56, and 455 shares at an average price of $186.18. The following day, an additional 500 shares were sold at $185.68 each.

These transactions were executed under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell their shares at predetermined times to avoid any accusations of insider trading.

It's worth noting that these sales do not necessarily indicate a lack of confidence in the company's future prospects. Executives often sell shares for personal financial planning reasons, and such sales are common among high-ranking corporate officials.

Investors and followers of Amazon.com Inc will be keeping a close eye on further transactions from the company's executives to gauge their confidence in the company's performance and outlook.

InvestingPro Insights

Amidst the news of Amazon.com Inc's ( NASDAQ :AMZN) CEO of Amazon Web Services, Adam Selipsky, selling company stock, investors may be seeking additional context to understand the company's current financial health and market performance. According to InvestingPro, Amazon has been experiencing notable growth, with a revenue growth of 12.54% over the last twelve months as of Q1 2024. This growth is reflected in the company's substantial market capitalization, which stands at a staggering $1920.0 billion USD.

InvestingPro Tips reveal that Amazon is trading at a high earnings multiple, with a P/E ratio of approximately 50.68, indicating a premium valuation by the market. Furthermore, analysts have revised their earnings upwards for the upcoming period, suggesting optimism about Amazon's future performance. Additionally, Amazon has been highlighted as a prominent player in the Broadline Retail industry, which could be a contributing factor to the company's robust market position.

As for the company's stock performance, Amazon has seen a significant price uptick over the last six months, with a 26.48% total return, and it's trading near its 52-week high, at 96.36% of this peak value. These metrics underscore the company's strong performance and may provide reassurance to investors considering the recent insider selling activity.

For those interested in a deeper analysis, InvestingPro offers more insights on Amazon.com Inc, including additional InvestingPro Tips. Discover more about the company's financials and market potential by using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 15 additional InvestingPro Tips available for Amazon, which could further inform investment decisions.

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