Facebook Stock Price Up, COO Sheryl Sandberg Sells And Nets $91 Million

SMS Text

facebook coo

Facebook’s stock price rose above the price of its initial public offering of $38 for the first time this past Friday, closing at $38.50. Facebook’s COO, Sheryl Sandberg, wasted no time selling off 2.2 million shares.

Sandberg’s filings with the Securities and Exchange Commission show that she netted $91 million from selling off her shares. Sandberg still owns 25 million shares in the company, currently valued at $1 billion.

According to her Form 4 filing, she disposed of 2,274,095 class-A common shares at $38.3909 apiece, as well as 91,500 at $38.8364 each, leaving her with a total of 12,632,775 shares in the company. In November 2012 Sandberg sold more than 350,000 shares of Facebook stock valued at $7.4 million.

This is not a sign that Facebook is in a state of decline. Facebook reported an increase of 53% in its second quarter revenue of $1.81 billion, compared to the second quarter of 2012 when it was at $1.18 billion.

Facebook’s daily active users in the second quarter were 699 million, a 27% increase compared to last year. Monthly active users hit 1.15 billion in the second quarter, an increase of 21% over last year.


Matt Southern

Matt Southern

Lead News Writer
Matt Southern is the lead news writer at Search Engine Journal. His passion for helping people in all aspects of online marketing flows through in the expert industry coverage he provides.
Matt Southern
Get the latest news from Search Engine Journal!
We value your privacy! See our policy here.
  • http://www.kingged.com Riza

    I wonder why people would immediately assume that when others are selling, a business is in a state of decline. There are lots of factors why a person would sell his shares.

    • http://www.mattsouthern.com Matt Southern

      I agree, Riza. I saw a lot of sites speculating that this meant Facebook was in a state of decline so I felt the need to clear up any concern about that.