Google co-founders Sergey Brin Larry Page have sold Google Shares worth millions. Brin has sold 400,000 shares from October 3-5 for $126.1 million.


Google co-founder Sergey Brin got a total of more than $1 billion in Google stock and Larry Page has got $978.4 million since the company went public in August.

Mercury News has obtained special information from Thomson Financial, a research firm, and has reported that Brin sold 400,000 shares at market prices ranging from $309.25 to $321 from Oct. 3-5 for a total of $126.1 million.

Brin’s total proceeds from stock sales since last year amounted to $1,066,552,692, according to Thomson.

Lynne Fox, Google spokeswoman is quoted by Mercury News as saying, “At the time of the IPO of Google, all senior executives were asked to enter into 10b5-1 plans, and these sales are simply a consequence of those required plans. Each of the executives retains a large proportion of their initial holdings in Google stock”. [source]

The price of Google shares is currently at $305.00

“Piper Jaffray maintained an “outperform” rating and $365 target price on Google, saying it expects the Internet company to post a strong third quarter despite seasonality. “We believe Google’s monetization and traffic are continuing to grow above industry levels,” Piper analyst Safa Rashtchy wrote in a recent research note.” [source]

 

 

 

 

Sharing is caring