Facebook COO Sheryl Sandberg has sold off just under $22 million of her company shares this month, according to financial information filed to the Securities and Exchange Commission. Sandberg sold 75,988 of her shares at $76.77 and a further $207,346 at $77.54 each. This leaves the executive with 6,228,611 shares in the company which are worth a total of $481,658,489.
Sandberg already made news in the business sections of the press earlier this year, for selling off common stock shares in record time for a company insider. During the spring Sandberg sold a whopping 26 million worth of her Facebook shares, amounting to around 63% of her total share value at that time.
It’s not only these two large selling spurts however, Sandberg has been selling off shares all year, on pretty much a monthly basis. She’s not the only senior executive to do so within Facebook either – Vice President and general counsel Colin Stretch, Chief Financial Officer David Ebersman, Vice President of Business and Marketing David B. Fischer and Chief Technical Officer Michael Todd Schroepfer have all been selling shares in Facebook at a considerable rate this year.
So too have senior executives at Google, including CEO Lawrence Page who holds a 10% stake in the company. This sort of activity could indicate that the technical sector sees itself as vulnerable, with insiders cashing in while stock prices are currently highly valued.
Facebook is regularly noted by analysts as having a too-high value in shares compared to the likelier industry estimation at its worth.