As Google Inc. (NASDAQ:GOOG) stock surged Monday, CEO Larry Page and two other company insiders combined to make 14 different sale transactions by the end of business, dumping more than 78,000 shares with an aggregate value of about $51 million. This would probably be something of note for many hedge funds, as Google is the second-most popular stock holding among hedge funds – which includes Jeffery Altman’s Oak Creek Asset Management, which took a $254 million stake in Google stock in the first quarter of 2012.
As Google Inc. (NASDAQ:GOOG) stock made its big move yesterday, Page made several transactions, according to SEC filings, where he got rid of more than 27,000 shares (about 25 percent of his holdings) over nine separate transactions that ranged from $651 to more than $658 per share – which came to an aggregate value of about $17.6 million. He finished the day with 80,000 shares.
Ram Shriram, a member of the Google Inc. (NASDAQ:GOOG) board of directors, consummated three sales of more than 50,000 shares at about $650.10 a share, which came to about $32.6 million in value. He gave up about 20 percent of his holdings, and still has more than 200,000 shares in his holdings.
John Hennessy, another member of the Google Inc. (NASDAQ:GOOG) board, made two sales of 25 shares each at $650 a share, for $32,500 in value. He still has more than 1,200 shares in his holdings.