Wed Nov 06 15:10:00 UTC 2024: ## Amazon CEO Jeff Bezos Sells $214 Million Worth of Amazon Shares
**Seattle, WA** – Amazon.com Inc. (NASDAQ:AMZN) executive chair Jeff Bezos has sold off 1.07 million shares of the e-commerce giant, raking in approximately $213.8 million, according to a recent SEC filing. This leaves Bezos with a remaining 926.41 million shares of Amazon stock.
This transaction follows a trend of recent insider selling at Amazon. Director Jonathan Rubinstein offloaded $1 million worth of shares, while Douglas Herrington, CEO of Worldwide Amazon Stores, sold $696,360 worth of shares.
Despite these sales, analysts remain bullish on Amazon’s future prospects. Bernstein analyst Mark Shmulik maintains an “Outperform” rating on the stock with a $235 price target, citing Amazon’s promising future despite planned infrastructure spending.
Amazon’s recent third-quarter earnings report showcased strong performance, with net sales reaching $158.9 billion, exceeding expectations and marking an 11% increase from the previous year. This positive performance has contributed to a rise in Amazon’s stock price, which saw a significant uptick following the earnings announcement.
On Tuesday, Amazon stock closed at $199.50, rising by 1.90% during the day. In after-hours trading, the stock dipped 0.20%. Year-to-date, Amazon’s stock has seen substantial growth, up by 33.06%.
**Bezos-Backed Startup Offers “Landlord in 10 Minutes” Opportunity**
Meanwhile, a Jeff Bezos-backed startup, Arrived Homes, has launched its Private Credit Fund. This platform offers investors the chance to become landlords with a minimum investment of just $100. The fund provides access to a pool of short-term loans backed by residential real estate with a target 7% to 9% net annual yield paid to investors monthly.
The fund has seen high demand, with the maximum investment amount currently capped at $5,000.
First Piper 