Amazon.com, Inc. (NASDAQ:AMZN) Shares Sold by Parnassus Investments LLC

Amazon.com, Inc. (AMZN) is a multinational technology company that specializes in e-commerce, cloud computing, digital streaming, and artificial intelligence. The company was founded in 1994 by Jeff Bezos and has since grown to become one of the largest and most successful companies in the world.

Parnassus Investments LLC is a private investment firm based in St. Petersburg, Florida. The firm manages over $20 billion in assets under management (AUM) and invests in a variety of industries, including technology, healthcare, and consumer goods.

On August 17, 2021, Parnassus Investments LLC sold approximately 3.5 million shares of Amazon.com, Inc. stock for an average price of $3,498 per share. The total value of the transaction was approximately $11.6 billion.

The sale of these shares represents a significant portion of Parnassus Investments LLC's holdings in Amazon.com, Inc. and may indicate that the firm is reducing its exposure to the company or rebalancing its portfolio. However, it is important to note that this transaction does not necessarily reflect any change in the firm's overall investment thesis or view on the company.

As of August 17, 2021, Amazon.com, Inc.'s market capitalization was approximately $1.6 trillion, making it one of the most valuable companies in the world. The company has consistently reported strong financial performance and growth over the years, driven by its dominant position in the e-commerce market and its expanding suite of cloud computing and digital services.