Facebook Inc (NASDAQ:FB) insiders are at it again, quickly unloading more shares of the social network’s stock. Chief Operating Officer Sheryl Sandberg, director Susan Desmond-Hellmann, Chief Technology Officer Michael Todd Schroepfer, Chief Financial Officer David M. Wehner, Marketing VP David Fischer, General Counsel Colin Stretch and Chief Accounting Officer Jas Athwal all moved some shares around recently.
Sheryl Sandberg has moved some shares around, converting some restricted stock units and unloading some shares. On Aug. 15, she acquired 43,193 shares and sold more than 22,000 shares, leaving her with nearly 6.8 million shares of Facebook under her direct ownership.
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy Read More
CTO Michael Schroepfer also sold off some shares of Facebook Inc (NASDAQ:FB). In a transaction dated Monday, he sold about 85,000 shares, leaving him with 270,401 shares of the social network left. On Aug. 15, CAO Jas Athwal converted some restricted stock units and sold off about 7,500 shares of Facebook. CFO David Wehner acquired 24,120 shares of Facebook on Aug. 15 and sold about 12,500 of them.
Other insiders move around Facebook (FB) stock
Marketing Vice President David Fischer also disposed of some Facebook shares, dumping about 60,000 shares of the social network in a transaction dated Aug. 15. He also acquired nearly 118,000 shares of the social network after converting some restricted stock units.
Director Susan Desmond-Hellmann converted 1,250 restricted stock units into Class A shares on the same day, while General Counsel Colin Stretch acquired about 14,000 shares of Facebook and sold about 7,300 shares. He also moved around some restricted stock units.
Facebook Inc (NASDAQ:FB) stock fell .64% on Tuesday to close at $74.81 per share. The social network’s 52-week low is $38.15 per share, while its 52-week high is $76.74 per share. Facebook’s 50-day moving average is $70.67 per share, while its 200-day moving average is $65.35 per share. The company’s market capitalization is currently $194.2 billion. Analyst consensus on Facebook is to buy shares, and the average price target is around $80 per share.