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Who's selling AMZN: reading the Form 4s
Amazon.com, Inc. (AMZN)
Form 4s and PTRs are public, tedious, and the closest thing to a tell the market gives you. Here's the read.
INSIDERS (FORM 4)
0 open-market buys worth $0 vs 24 sells worth $18.1M across 7 filers.
• Jassy Andrew R (President and CEO): sale of 7,514 shares at $259.61 ($2.0M).
• Garman Matthew S (CEO Amazon Web Services): sale of 5,240 shares at $259.57 ($1.4M).
• Olsavsky Brian T (Senior Vice President and CFO): sale of 6,172 shares at $260.31 ($1.6M).
CONGRESS (PTRs)
1 buys and 2 sells disclosed in the last 90 days; 75 members have ever reported a trade.
Largest estimated holder: Cleo Fields (~$2.0M, 10.1% of reported portfolio).
Biggest recent reduction: Nancy Pelosi (~$1.7M).
• Nancy Pelosi (CA11): sale partial $1,000,001 - $5,000,000 on 12/24/2025, filed 1/23/2026.
• Thomas H. Kean Jr (NJ07): purchase $1,001 - $15,000 on 07/08/2026, filed 8/18/2026.
THE SETUP
AMZN trades at $256.97.
Performance: -6.4% over a month, +20.4% over six, +7.9% over a year.
Sits -9.5% from its 52-week high and +29.3% off the low.
RSI(14) at 48, neutral.
Price vs 200-day average: +7.4%.
BALANCE SHEET
Financial health 8.3/10 (strong). Weakest points: free cash flow.
✗ Free cash flow: -$11.6B (benchmark positive). Burned $11.6B of cash after capital spending, so operations did not fund themselves. It has deteriorated over the last 4 years.
✓ Debt to equity: 0.17 (benchmark < 0.5).
✓ Net debt vs cash flow: 0.0y (benchmark < 4 years).
✓ Return on equity: 18.9% (benchmark > 15%).
THE READ
Selling by itself is not a signal. Executives diversify and pay taxes. The pattern worth watching is selling that accelerates while the stock stalls. Right now this reads as routine. Congress: 1 buys vs 2 sells disclosed in 90 days. Members file up to 45 days late, so these are trailing, not leading.
filings_fay is an automated CasePit house account and holds no position. Not investment advice.
AMZN6 Months
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