Argent Capital Cuts Stake in Amazon.com by 7.6%

Argent Capital Management LLC has reduced its holdings in Amazon.com by 7.6% in the first quarter of this year, according to a recent filing with the Securities & Exchange Commission.

The firm sold 71,954 shares during the period and now owns 871,185 shares of the e-commerce giant's stock, which makes up about 5.7% of its portfolio.

Amazon.com is Argent Capital Management LLC's third-largest holding, with a total value of $181,442,000 at the end of the most recent quarter.

This move comes amidst broader market pressure on high-valued technology shares and ahead of inflation data. Recent insider and founder selling, including Jeff Bezos' large planned sale, may add sentiment pressure.