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Bezos To Dump $4 Billion In Amazon Stock After Surge As Cramer Calls Sale A "Buzzkill"

Tyler Durden's Photo
by Tyler Durden
Authored...

Amazon founder Jeff Bezos plans to sell 15 million shares worth roughly $4.07 billion under a prearranged trading plan, according to a Form 144 regulatory filing. The planned sale comes after Amazon shares surged about 25% over the last several trading sessions.

The shares, which Bezos acquired as founder's stock in 1994, will be sold through Morgan Stanley Smith Barney. The filing showed no stock sales by Bezos during the previous three months, although he donated 220,200 shares to nonprofits in May.

The stock's rally follows last Thursday's earnings report, which showed solid AWS growth and profitability despite an outlook that disappointed investors. Revenue reached $200.61 billion, beating the Bloomberg consensus estimate, while earnings of $5.75 per share exceeded the $1.82 consensus estimate.

Meanwhile, CNBC's Jim Cramer called the planned sale "a buzzkill."

Here are the latest Amazon insider transactions:

Bezos will still own 880.95 million Amazon shares after the sale, a stake currently valued at roughly $250 billion.

Perhaps Bezos needs another multibillion-dollar cash infusion for Blue Origin, his capital-intensive rocket company, which continues to trail Elon Musk's SpaceX.

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