Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Facebook's Sandberg sells $91m in shares  Join our daily free Newsletter

MENAFN - Khaleej Times - 14/08/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Facebook Inc chief operating officer Sheryl Sandberg sold about 91 million worth of shares in the social network after the stock topped its 38 initial public offering price for the first time since May 2012.

Sandberg sold 2.37 million Facebook shares on August 7, two days after Facebook closed at a record high of 39.19, according to a regulatory filing. With the latest sale she has sold more than seven million shares, or about 12 per cent her total, since the IPO. The holdings include unvested restricted stock units as of end-2012 and options.

"There's no denying that she has tremendous amounts of equity skin in the game," said David Larcker, a professor of accounting at the Stanford Graduate School of Business in Stanford, California. "I think it's prudent for diversification and other kind of purposes to take advantage of the value that she has, and put it into alternative things." Facebook stock has surged 44 per cent this year, buoyed by the company's increasing success in generating revenue from advertising on mobile devices. After one of the worst IPOs in a decade, the world's largest social network has focused on ads for smartphones and tablets, and is now projected to reach sales of more than 16 billion by 2017. The shares fell less than one per cent to 38.22 at the close in New York today.

Sandberg, who joined Facebook in 2008, has periodically sold stock in the Menlo Park, California-based company since the IPO last year.

Tucker Bounds, a spokesman for Facebook, declined to comment. In the past year, Sandberg has sold a total of 7.3 million shares for a total value of 221.5 million, according to InsiderScore.com, which monitors insider transactions. All of the sales were completed under trading regulations that allow executives to cash out a portion of their holdings when stocks reach predetermined prices.

 






  MENA News Headlines
 Jul 27 2014 - New dates for Plastivision ArabiaspanKhaleej Times
(MENAFN - Khaleej Times) Po Centre Sharjah will continue to partner with the All India Plastics Manufacturers Association or Aipma the oldest and the largest apex body of the plastic industry in ...

 Jul 27 2014 - First physical delivery of plastics futures contract done by DCCCspanKhaleej Times
(MENAFN - Khaleej Times) E DCCC which acts as the clearing house for the DGCX is the central counterparty for each trade carried out on the exchange.The Dubai Commodities Clearing Corporation or DCCC ...

 Jul 27 2014 - Ajman Bank to distribute DMCC coinsspanKhaleej Times
(MENAFN - Khaleej Times) E UAE Gold Bullion Coins are available in four denominations weighing 1oz 1/2oz 1/4oz and 1/10oz.The Dubai Multi Commodities Centre or DMCC has announced that Ajman Bank is ...

 Jul 27 2014 - SIB launches Splendid Summer OfferspanKhaleej Times
(MENAFN - Khaleej Times) Arjah Islamic Bank or SIB has launched its Splendid Summer Offer a new highly-competitive personal finance product with the lowest rates ever starting from only 2.The move is ...

 Jul 27 2014 - Six Emirati families get new AvanzaspanKhaleej Times
(MENAFN - Khaleej Times) Med at making reliable and affordable mobility available to a larger segment of the society the initiative empowers members of the UAE community with the right transport ...

 Jul 27 2014 - Busy Eid for Abu Dhabi hotelsspanKhaleej Times
(MENAFN - Khaleej Times) Cupancies set to be increased as competition has never been so tough Emirates Palace like other hotels in Abu Dhabi have revved up their offers for Eid. — Supplied ...

 Jul 27 2014 - Dubai retailers look to continue brisk businessspanKhaleej Times
(MENAFN - Khaleej Times) Tailers are anticipating another year of enthusiastic buying and selling as all major malls in the emirate witness an increase footfall this summer.Fashion apparel home ...

 Jul 27 2014 - Bank of Baroda marks 107th foundation dayspanKhaleej Times
(MENAFN - Khaleej Times) Ma Moorthy garlanded the portrait of Sir Sayajirao Gaekwad III and lit a lamp to mark the celebration of 107th foundation day.Bank of Baroda recently celebrated its 107th ...

 Jul 27 2014 - Gulf Intl Bank posts 50.2m first-half profitspanKhaleej Times
(MENAFN - Khaleej Times) T interest income at $76.Gulf International Bank reported a consolidated net income after tax of $50.2 million for the six months ended June 30 2014 compared to $60.6 million ...

 Jul 27 2014 - ABC Islamic Bank gains up 25 at 7.5mspanKhaleej Times
(MENAFN - Khaleej Times) Erating expenses increased to $3.ABC Islamic Bank on Saturday announced that its net profit for the first half of 2014 was $7.5 million 25 per cent higher than the profit of ...

more...


 






Google

menafn.com

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help