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Amazon.com
Executive Chairman Jeff Bezos unloaded company stock last week, and according to a report the founder of the e-commerce giant could be preparing to sell more.
Bezos sold around $240 million worth of
Amazon
(ticker: AMZN) shares last week, according to a filing with the Securities and Exchange Commission. The transactions were listed as contributions to nonprofit organizations, which weren’t disclosed.
Shares of
Amazon
fell 1.8% on Nov. 15, and 0.3% on Nov. 16, the dates when both of the stock sales were executed.
Following the transaction made of Nov. 16, Bezos still held 988.3 million shares of Amazon, which amounted to around 10% of the company.
Amazon stock was falling again Tuesday. There was no clear reason for the decline, but the drop did follow a report from CNBC that said Bezos would be selling even more Amazon shares. According to the report, which cited sources, Bezos may sell around 8 million to 10 million shares, which would be more than $1 billion worth of stock.
Amazon didn’t immediately respond to a request for comment from Barron’s.
Shares of the e-commerce and tech company declined 2.2% to $142.88 on Tuesday, a day when the tech sector was trading lower. Amazon stock has gained 70% this year.
Write to Angela Palumbo at [email protected]
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