CEO Jeff Bezos continues to cash in some of his stock.
Bezos filed Tuesday with the
Securities and Exchange Commission
to sell 950,000 shares. This follows his sale of 2.95 million shares in February, the largest block of stock he has ever unloaded. Yet even once he sells the latest batch, he will still hold more than 110 million shares, or about 29% of the company, according to Amazon's latest proxy filing.
News of the filing, which hit
Dow Jones Newswires
after the close of trading, had little effect on investors. In after-market trading on Island shares were up 8 cents from their close of $16.11.
Amazon shares are up nearly 50% on the year, as the company reported back-to-back stellar quarters. Other insiders have also taken advantage of the run-up in the share price. In the past three months, insiders have sold 3.36 million shares, not including the latest filing from Bezos.
In January, the Seattle-based company reported its
first-ever profit, as sales during the holiday season were much higher than anyone expected. Amazon followed this up in late April with another
strong quarter. The online retailer, as expected, sunk back into the red in the first quarter, but sales were higher than expected and the loss much narrower than investors were anticipating.