Home Technology Facebook Inc (FB) VP David Fischer Unloads More Shares

Facebook Inc (FB) VP David Fischer Unloads More Shares

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Facebook Inc (NASDAQ:FB) executives continue to unload shares of their company’s stock. This time around, it’s David Fischer, who is the company’s vice president of business and marketing partnership.

Facebook Inc (FB) VP David Fischer Unloads More Shares

Facebook’s Fischer sells 36,000 shares

In his latest filing with the Securities and Exchange Commission (spotted by AllFacebook), he said he sold 36,000 Class A common shares of Facebook Inc (NASDAQ:FB). That filing is dated Friday and indicates that he sold half of those shares at just under $70 a share and the other half at a little over $71 a share. That still leaves him with more than 450,000 shares of the social network, however. The transaction actually occurred on Thursday.

Fischer is just one of several Facebook Inc (NASDAQ:FB) executives who have been selling off their shares of the company’s stock. Chief Operating Officer Sheryl Sandberg has also been unloading some of her stock, selling some as recently as this month. Chief Technology Officer Mike Schroepfer has also been gradually selling off his shares, as has Chief Financial Officer David Ebersman as well.

There’s certainly a pattern emerging in these executives’ sales of Facebook Inc (NASDAQ:FB) shares. As the social network’s share price has gradually risen, they have sold more and more. This certainly makes sense, particularly for a company with a stock which has only over the last year or so begun rising steadily. Why wouldn’t executives want to unload shares as they continue to touch new highs?

Facebook downgraded by UBS, Argus

Facebook Inc (NASDAQ:FB) received a couple of downgrades from two major firms today. UBS analysts actually downgraded the social network from Buy to Hold, which is interesting because they’ve been pretty bullish on the social network in recent weeks. Their price target, according to Analyst Ratings, is now $73 a share, but only a week ago, UBS analysts raised their price target for Facebook to $90 a share.

Analysts at Argus also downgraded Facebook Inc (NASDAQ:FB) from Buy to Hold and have a price target of $73 a share. That downgrade was based purely on valuation, however.

Meanwhile, Nomura analysts raised their price target for Facebook Inc (NASDAQ:FB) from $78 to $84 a share on Friday. They believe the social network has enough pricing power to warrant the increased price target. In fact, they think the company’s price per ad growth is sustainable, unlike this same metric from other online advertising companies, because of the limited number of ads Facebook has space for.

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