Facebook co-founder Moskovitz unloads $9M in stock

Dustin Moskovitz has trimmed his holdings, though he's still sitting on a pile of stock worth billions.

Facebook co-founder Dustin Moskovitz Wikipedia

Dustin Moskovitz, a Facebook co-founder who was one of Mark Zuckerberg's Harvard roommates, has joined Facebook insider Peter Thiel in selling some of his stock.

Unlike Thiel, who sold the bulk of his holdings, Moskovitz sold just 450,000 shares, according to an SEC filing. That represents a sliver of what he owns, though it still brought in a cool $9 million.

Moskovitz sold the shares over the last three trading days, 150,000 shares each day. The prices -- ranging from $19.38 to $19.99 -- aren't pretty considering that Facebook went public at $38 a share just three months ago. Then again, there's no telling how much farther the stock might drop. It's now trading at just over $19 a share.

Moskovitz also set himself up to sell more. He converted 7 million of his remaining "Class B" shares to "Class A" common stock, which, while providing less voting power, can be sold publicly. Even if Moskovitz sells those 7 million shares, he'll be sitting on about 126 million shares, which regardless of Facebook's depressed price are worth about $2.4 billion.

Moskovitz was Facebook's chief technology officer before leaving in 2008 to launch Asana, a Web-collaboration tool.

 

Join the discussion

Conversation powered by Livefyre

Don't Miss
Hot Products
Trending on CNET

HOT ON CNET

Still taking notes with pen and paper?

Bump up your grades and school supplies with these laptops, desktops, and tablets!