Insiders Are Selling These 5 Retail Stocks

Page 5 of 5

1. Amazon.com Inc (NYSE:AMZN)

Number of Hedge Fund Investors: 293

Amazon.com Inc (NYSE:AMZN) CEO Andy Jassy went on a selling spree on Amazon.com Inc’s (NYSE:AMZN) stock as he dumped $9 million worth of Amazon.com Inc (NYSE:AMZN) shares on March 4, letting go of 50,000 shares at $180 a piece. Jonathan Rubenstein, a board member at Amazon.com Inc (NYSE:AMZN), also sold 5,556 AMZN shares on March 4 at $180 per share. Since March 4, Amazon.com Inc (NYSE:AMZN) shares have gained about 1.2%.

Another board member at Amazon.com Inc (NYSE:AMZN), Judith A. McGrath sold 5,760 shares of Amazon.com Inc (NYSE:AMZN) on February 29 at $174.84 per share.

Alger Spectra Fund stated the following regarding Amazon.com, Inc. (NASDAQ:AMZN) in its fourth quarter 2023 investor letter:

Amazon.com, Inc. (NASDAQ:AMZN) is a well-known online retailer and cloud computing leader. The company’s Amazon Web Services (AWS) business provides utility-scale cloud offerings that facilitate corporate America’s transition to digital systems. During the quarter, shares contributed to performance as Amazon reported strong fiscal third quarter results, where the company beat sales and earnings estimates. Moreover, AWS growth remained steady. contributing to Amazon’s better-than-expected operating income despite concerns around cloud cost optimizations, showing signs of increasing net new cloud workloads. While management noted that customers remain price-conscious and focused on deals, demand remains strong across all segments, leading the company to raise their fiscal fourth quarter revenue and operating income guidance.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the Insiders are Selling These 10 Stocks in 2024 and the 10 Mining Stocks with Heavy Insider Buying in 2024.

Page 5 of 5