Facebook co-founder Moskovitz sells more shares

30 August 2012 09:29 am - 0 - {{hitsCtrl.values.hits}}

A A A

Facebook co-founder Dustin Moskovitz is selling yet more shares in the one-time consumer-Internet darling, keeping up a steady but small flow of daily sales, according to a filing.

This week, Moskovitz has sold a total of 450,000 Class A shares at prices ranging from $19.19 to $19.22 a share, reducing the Facebook stake of his Dustin A. Moskovitz Trust to 6.15 million A shares, a filing with the Securities and Exchange Commission showed.

His Dustin A. Moskovitz Trust also owns 106.8 million B shares, which can be converted to Class A shares on a one-to-one basis at any time. Class B shares carry more voting power.

Moskovitz has been selling shares at the rate of 150,000 a day since August 19, the first day since Facebook's initial public offering that certain insiders were allowed to sell shares.

Facebook's IPO has been one of the most troubled in recent memory, with the shares debuting in May at $38 but quickly falling. On Wednesday, shares in the social network were trading around $19, beset by concerns over issues ranging from its mobile strategy to its slowing growth.

Moskovitz, a roommate of Facebook chief Mark Zuckerberg's at Harvard University, left the company in late 2009 to work on his own start-up, workplace software-service Asana.

Several Facebook insiders, including early backer Peter Thiel, have been selling shares at a rapid clip. Thiel, who sits on Facebook's board, sold 20 million shares earlier this month.

(Reporting by Sarah McBride; Editing by Chris Gallagher)

(Source : Reuters)

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Facebook co-founder Moskovitz sells more shares

Comments - 0

Add comment

RECOMMENDED

‘Spike in blast fishing’ poses renewed threats to Sri Lanka’s marine ecosystems

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Most Viewed in News

Former MP Palitha Thewarapperuma dies from electrocution

Racing event tragedy leaves seven dead including eight-year-old child

Street food vendor arrested for verbally harassing foreigner

Sri Lankan among NASA’s new crew for next simulated Mars journey

SL on alert on possible genocide allegations by Canada

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

MIRROR CRICKET

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

TODAY'S HEADLINES

SL took minimal steps to punish officials who committed human rights abuses: US report

Iranian President’s visit Sri Lanka withstands western pressure

25 tons of solid waste disposed along Sri Pada route

Temperature rises to ‘Caution’ level

Sri Lanka secures third spot in South Asian Kurash Championship 2024

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident

Indian cricket manager indicted for Legend Cricket League match-fixing allegations