Insider Selling: Sergey Brin Sells 166,668 Shares of Google Stock (GOOG)
Google (NASDAQ:GOOG) major shareholder Sergey Brin sold 166,668 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $550.88, for a total transaction of $91,814,067.84. Following the completion of the transaction, the insider now directly owns 22,985,280 shares of the company’s stock, valued at approximately $12,662,131,046. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Google (NASDAQ:GOOG) traded down 1.62% during mid-day trading on Tuesday, hitting $544.94. 1,861,921 shares of the company’s stock traded hands. Google has a 52 week low of $502.80 and a 52 week high of $604.83. The stock’s 50-day moving average is $533.3 and its 200-day moving average is $538.8. The company has a market cap of $367.6 billion and a price-to-earnings ratio of 29.02.
GOOG has been the subject of a number of recent research reports. Analysts at Nomura cut their price target on shares of Google from $700.00 to $675.00 in a research note on Wednesday, May 14th. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Google in a research note on Sunday, April 20th. They now have a $625.00 price target on the stock.
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