Facebook COO Sheryl Sandberg has sold $91m of the company’s stock.
Sandberg sold about 2.4m shares of the social network’s stock at an average price of $38 per share, according to a regulatory filing to the US Securities and Exchange Commission (SEC).
Despite this, Sandberg, who has sold small amount of stocks in Facebook recently, still owns over 25m shares in the company, valued at $1bn.
In November 2012, she sold more than 350,000 shares of Facebook stock valued at $7.4m.
Last year, Facebook revealed in a filing to the SEC that the social network’s CEO will not be selling his Facebook stock for at least a year.
Earlier this year, Facebook announced further capital investments of $1.6bn as it seeks to bolster its infrastructure.
Facebook reported a 53% increase in its second quarter revenue to $1.81bn, compared with $1.18bn it reported during the second quarter of 2012.
Content from our partners
The company’s daily active users were 699 million on average in Q2, a year-over-year rise of 27% while monthly active users reached 1.15 billion in the quarter, recording a growth of 21%.
