If you’ve been wondering what’s wrong with Facebook Inc (NASDAQ:FB) stock lately, you’re certainly not alone. Once the train rolled out of the station a few years ago, it has rarely stopped to fuel up, but then February arrived and someone hit the brakes. Analysts are convinced that Facebook stock is the victim of irrational fear and bad headlines, and while those are certainly factors to the stall-out, there’s always more to the story.
As it turns out, Mark Zuckerberg and a long list of other insiders unloaded plenty of Facebook stock during the month of February. Of course, it is tax season, after all, and Zuckerberg continues to sell stock to fund the non-profit he supports with his wife. So now that February is over with, does that mean the Facebook train will be leaving the station again? At least one writer thinks that’s highly unlikely.
Regulatory filings with the Securities and Exchange Commission reveal that Zuckerberg unloaded approximately 2.7 million shares of FB stock in February, and Reuters estimates that he raked in $482.2 million for the Chan-Zuckerberg Initiative. Just this week, he unloaded about 685,000 shares for a total of $125.4 million.