Amazon Share Price Dips as Major Investor Trims Holding

Amazon's (AMZN) share price drew attention from investors after Capital Investment Services of America trimmed its holding in the second quarter. The investment firm sold 2,975 shares, reducing its position by 2.3% to 126,495 shares.

The stake was valued at approximately $30.1 million at the end of the quarter, according to the latest filing data. This transaction comes amidst high institutional ownership, with funds and other large investors holding about 72.2% of Amazon's shares.

Over the past 90 days, company insiders have sold a total of 70,589 shares worth around $18.3 million. Despite this selling activity, Wall Street remains focused on Amazon's operating growth.

The company reported impressive quarterly earnings, with revenue reaching $200.6 billion, up 19.6% year over year. AWS revenue increased 36.7% to $42.2 billion, while Amazon reported $5.75 in quarterly earnings per share, well above the analyst estimate of $1.82.