Significant Insider Selling in Shares of Facebook (FB) Continues

10:21PM ET 3/01/2021 MT Newswires
There was a substantial sale of shares of Facebook by an insider today, as revealed in a form 4 document filed with the SEC. One insider -- David M Wehner, Officer -- sold 5,916 shares in the company having a market value of approximately $1,526,032. There have been 3 insiders with buy/sell transactions in the past 90 days prior to this filing. All of these trades have been sales resulting in the sale of 53,550 company shares. Adding the most recent activity to this 90-day history indicates insider trades have seen net sales of 59,466 shares and have averaged 14,867 shares per transaction over this time period.

In relation to the peer group over the last 90 days, insider buy/sell trading at Facebook is higher than the 13-company peer group average. Social Media & Networking peer group saw 29 buy/sell trades during this period for an average of 2.2 transactions per company. The number of shares per buy/sell trade for Facebook insiders was also higher. Within the peer group there were 0 shares purchased and 238,811 shares sold with company insiders having sold 8,235 shares on average.

Significant insider buying and selling activity has been determined by eliminating all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers in data sourced in composing and writing this story.