Jonathan Rubinstein, a director at Amazon (AMZN, Financial), sold 4,549 shares of that company’s stock on the open market at $219.85 per share for a total transaction amount of approximately $1,000,097. After the transaction, Rubinstein still has 92,554 shares of Amazon stock. Sales were disclosed in a Securities and Exchange Commission filing.
However, Amazon joined Walmart (WMT, Financial), Shein, and PDD Holdings’ Temu in reporting record-breaking Black Friday and Cyber Monday sales, underscoring robust consumer demand during the holiday season. Analysts have named Amazon Web Services (AWS) as one of Amazon’s main growth drivers. Last week, Bank of America stuck with its Buy rating on Amazon, highlighting the improving revenue acceleration expected for AWS, thanks to innovations such as the Amazon Nova foundation models and Amazon Q Developer.
Piper Sandler’s 2025 CIO Survey separately indicated strong IT spending trends among these categories, of which AWS is perfectly positioned to profit. Amazon has been Amazon’s top stock pick, and JPMorgan reiterated its support of the company based on strong holiday sales performance and bullish growth forecasts.
Investors are interested in Amazon shares, and Susquehanna also takes a bullish position. It is convinced that the company will continue to innovate and enlarge its market share.
This article first appeared on GuruFocus.
