Facebook Inc (NASDAQ:FB) insiders have been gradually selling off their company’s stock as share prices have edged higher and higher. However, shares did decline today, by as much as 3% after a nice strong run over these last couple of months.
In a filing with the Securities and Exchange Commission (spotted by AllFacebook), Sheryl Sandberg revealed that she sold nearly 300,000 shares of Facebook Inc (NASDAQ:FB). She still owns a sizeable chunk of the social network, however, as she still has more than 9.5 million shares. Sandberg sold about 61,000 shares at around $70 a share and 105,500 shares for nearly $72 a share. She sold another 116,734 at just above $72 a share.
Michael Gelband’s Exodus Point launched in 2018 with $8.5 billion in assets. Expectations were high that the former Millennium Management executive would be able to take the skills he had learned at Izzy Englander’s hedge fund and replicate its performance, after a decade of running its fixed income business. The fund looks to be proving Read More
She’s not the only insider who reported selling shares of Facebook Inc (NASDAQ:FB) shares this week. Mike Schroepfer, the social network’s chief technology officer, revealed that he sold 25,000 shares of Class A common stock at just under $71 a share. That left him with nearly 242,000 shares of the social network.
Will Sandberg leave Facebook?
Meanwhile, the rumors that Sheryl Sandberg is leaving Facebook Inc (NASDAQ:FB) have continued to swirl. Of course she could sell all or most of her stock if she leaves to run for the U.S. Senate or to head over to The Walt Disney Company (NYSE:DIS).
However, just because she has been unloading stock, it doesn’t mean that she’s leaving. She is quite popular, so it’s perhaps unsurprising that there are rumors floating around about what she might or might not do. Both Sandberg and Shroepfer have been turning their shares of Facebook Inc (NASDAQ:FB) from paper profits into cash money for quite some time. And besides, Sandberg still has more than 9.5 million shares. It would take quite a long time to unload all or even most of those shares at the rate she has been selling them off at.