Facebook COO Sandberg sells $26.2mn in stock
Washington: Facebook’s COO Sheryl Sandberg has sold shares valued at more than 26.2 million dollars, according to a regulatory filing.
Facebook disclosed in an SEC filing that Sandberg sold more than 946,588 shares at prices ranging from 27.39 to 27.90 dollars, a level that Facebook hasn''t traded at since August.
In fact, Facebook shares have been on a tear in recent weeks, as Wall Street has embraced the company''s we''re-all-about-mobile message and the biggest so-called lockups on insiders selling their pre-IPO shares have passed, CNET reports.
According to the report, the stock, which rose 1.9 percent today to close at 27.49 dollars, has soared about 40 percent since early November.
This is not Sandberg''s only stock sale, but it is her biggest to date.
Most recently, she sold about 4.2 million dollars worth of shares, the report said.
And shortly before that, she cashed in 7.4 million dollars worth, it added.