Mark Zuckerberg has cashed in more than $1 billion in Facebook stock so far this year – roughly double his sales for all of 2020

Mark Zuckerberg, Facebook
Facebook CEOP Mark Zuckerberg in New York City on Friday, Oct. 25, 2019.

Mark Zuckerberg has cashed in over $1 billion worth of Facebook stock so far this year, according to data from 83 separate SEC filings.

That’s nearly double his total sales of just over $540 million for all of 2020. The Facebook co-founder and CEO retains a roughly 13% stake in his company after the sales.

In 2015, after the birth of his daughter, Zuckerberg pledged to give away 99% of his Facebook holdings to charity throughout his life.

In the last year alone, the Facebook co-founder has grown his fortune by an incredible $40 billion.

Zuckerberg became one of just eight centi-billionaires in the summer of last year following Facebook’s launch of an Instagram feature to compete with TikTok in the US.

According to data from Bloomberg, Zuckerberg is now the fifth wealthiest person on the planet, with a net worth of $113 billion. That’s equivalent to more than 0.5% of the United States’ annual GDP.

Facebook stock is up more than 12% this year, even with Zuckerberg’s sales, amid a bull run for equities.

Analysts also continue to be mostly bullish about the social media giant’s prospects. Facebook boasts 39 “buy” ratings, nine “neutral” ratings, and just two “sell” ratings from analysts.

Deutsche Bank analysts, led by Lloyd Walmsley, tagged Facebook with a “buy” rating and a $385 price target at the end of March, arguing the company is set to benefit from its e-commerce push and an increasing appetite for advertising amid the economic reopening.

The company has also recently moved toward the digital currency space with plans to launch a trial of its new digital currency, Diem, later this year.

Facebook attempted a move into digital currencies before with Libra, but regulators and critics squashed the effort.

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Palantir sinks 13% as filings show 3 top executives offloaded 2.7 million shares following lockup expiration

Palantir

  • Palantir stock slid 13% on Tuesday as insiders take advantage of a lockup expiration to offload shares of the big data company.
  • Co-founder Stephen Cohen and two other top executives sold 2.7 million shares of Palantir since the lockup expired on February 18.
  • The move comes as the price of Palantir stock continues to fall from Jan. 27 highs of over $39 per share.
  • Watch Palantir trade live here.

Palantir stock sank as much as 13% on Tuesday after regulatory filings showed the company’s co-founder Stephen Cohen and two other top executives offloaded 2.7 million shares.

SEC filings revealed (1) (2) (3) the trio took advantage of Palantir’s recent lockup expiration selling shares in the $25-$30 price range on February 18, 19, and 22.

Stephen Cohen is a computer scientist who founded Palantir in 2003 with the help of Peter Thiel, Nathan Gettings, Joe Lonsdale, and Alex Karp. The sales by Cohen continue a trend at Palantir of insiders cashing out on the company’s historic run.

Palantir’s stock rose over 300% from $9.50 at the end of its first day of trading to over $39 per share on Jan 27. Since then, the company has retraced some of those gains, though insiders are still cashing in.

Just a month after Palantir went public last year, CEO Alex Karp and co-found Peter Thiel sold a combined 41.45 million shares, for more than $400 million.

Meanwhile, an SEC filing released on Friday showed Peter Thiel sold roughly 20 million shares of Palantir between $25-$26 per share after converting class B common stock into class A common stock.

Still, according to data from the Wall Street Journal, over the last six months there have been $136 million worth of awards and purchases of Palantir stock from insiders versus just $38 million in sales, while big-time investors keep adding shares as well.

Cathie Wood’s ARK Invest ETFs acquired roughly 6.8 million shares of Palantir last week as the stock pulled back.

The company also was recently given a fresh “buy” rating from analysts at Goldman Sachs who cited a path to “sustainable growth” as the reason they like the stock.

Palantir traded down 10% as of 9:52AM E.T. on Tuesday.

Palantir chart
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