Facebook Inc (NASDAQ:FB) executives continues to take advantage of their company’s higher share price. Shares of the social network’s stock have been hovering between $65 and $70 a share for about the last month or so, and these continue selloffs have been going on for some time. This week both Sheryl Sandberg and David Ebersman sold shares of their company’s stock.
Facebook’s Sandberg sells nearly 300,000 shares
According to regulatory filings with the Securities and Exchange Commission, Chief Operating Officer Sheryl Sandberg unloaded 283,335 shares of Facebook Inc (NASDAQ:FB) on Thursday. She sold them at an average price of $67.45 a share, racking up more than $19 million in cash money from the sale. She still owns a large chunk of Facebook, as she holds more than 9.2 million shares. On paper as of right now, those shares are worth right around $623 million.
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Sandberg has been slowly selling off her Facebook Inc (NASDAQ:FB) stock, which isn’t too telling for investors right now since the company’s stock price traded so low for such a long time. Now that the stock looks to be close to its top—at least for now—it makes sense that she would sell. After all, Facebook’s one-year low is $22.67, and its one-year high is $72.59. It took the social network’s stock a year to recover back to its initial public offering price.
Ebersman sells more Facebook shares
Facebook Inc (NASDAQ:FB) Chief Financial Officer David Ebersman has also been slowly unloading shares at average prices which have been close to those Sandberg has been selling at. SEC filings indicate that on Wednesday, he sold 23,400 Facebook shares at an average price of $68.94 a share. That earned him more than $1.6 million in cash and left him with nearly 324,000 shares of the company. Those shares are worth more than $22 million on paper at recent share prices.
Shares of Facebook Inc (NASDAQ:FB) rose less than 1% today in late morning trading.