Jeff Bezos sold millions in Amazon stock, potentially reflecting confidence in the company's future.

Amazon founder Jeff Bezos sold 3.3 million shares worth $737 million in Amazon.com last week. This is part of a 10b5-1 trading plan he adopted at the start of the year. Bezos owns approximately 905.4 million shares in the company.

Analysts at Truist raised Amazon’s price target to $250 from $226, citing potential guidance raise for Q3. They expect stronger than expected Q2 results driven by a resilient NA consumer and favorable FX. Amazon is a Washington-based e-commerce giant founded in 1994.

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Read more at Yahoo Finance: Bezos Sells Millions in Amazon.com, Inc. (AMZN) Under Trading Plan