After an increase in the value of the company's securities, its co-founder decided to sell part of his stake
According to the publication MarketWatch, co-founder and a member of the board of directors of Alphabet Inc. Larry Page has sold shares of the company worth more than $ 80 million.
A few days ago, after the publication of the report on the financial results of the quarter and reports about the plans to hold a stock split, Alphabet's securities rose in price by 10%.
Larry Page sold 13,889 shares of Class C stock in the open market on Feb. 3, raising $40.56 million. The average share price was $2920.53.
On the same day, Larry Page marketed 13,889 Class A securities, which earned the company an additional $40.64 million. The average share price was $2,926.36.
On Feb. 2, Alphabet Inc. released its financial statements for the fourth quarter of 2021. For the quarter, the company's revenue rose to $75.33 billion, up 32% from the same period last year. Alphabet Inc. also announced that it will conduct a 20:1 stock split by July.
