Amazon's (NASDAQ:AMZN) Jeff Bezos Offloads Nearly 12 Million Shares - TipRanks.com

Tech titan Amazon’s (NASDAQ:AMZN) Executive Chairman Jeff Bezos has sold nearly 12 million shares of the company’s common stock, valued at over $2 billion. In an SEC filing, Bezos sold around 12 million shares in five blocks ranging from 1 million to over 3.2 million. The transactions occurred on February 7 and February 8 and were worth $2.04 billion.

Additionally, in a separate filing, Bezos outlined plans to sell around 50 million Amazon shares around February 7, estimated to be worth $8.4 billion.

What is Amazon stock prediction?

Analysts remain bullish about AMZN with a Strong Buy consensus rating based on a unanimous 39 Buys. Over the past year, AMZN stock has surged by more than 70% and the average AMZN price target of $207.92 implies an upside potential of 19.5% at current levels.