Early Facebook investor Peter Thiel cashes in 80% of his remaining stock in the social media giant
- Early Facebook investor Peter Thiel offloaded $11.3 million worth of the social media giant's stock on February 6, according to regulatory filings.
- The billionaire sold 53,602 shares, trimming his stake by 81%.
- Thiel still holds 9,948 shares, worth about $2 million.
- The investor also has a stake in Palantir Technologies, and indirectly invested in ventures including Space X and Spotify through his venture capital firm Founders Fund.
- Watch Facebook trade live here.
Peter Thiel, an early investor in Facebook, dumped $11 million worth of the social media giant's stock on February 6, according to regulatory filings.
The billionaire sold 53,602 shares, trimming his holdings by about 81%. Thiel, a member of Facebook's board of directors, cashed in most of his stake in 2012 after the company's post-IPO lockup period expired.
Bloomberg first reported Thiel's latest sale.
The trade brought Thiel's total stake in Facebook to 9,948 shares, worth about $2 million as of 2:40 p.m. ET Monday. The early investor once held roughly 45 million shares, a sum that would be worth more than $9 billion today.
Thiel is also co-founder of data firm Palantir Technologies. The firm has come under fire recently for its work developing software for US Immigration and Customs Enforcement. The billionaire has taken indirect positions in ventures including Airbnb, Space X, and Spotify through Founders Fund, a venture capital firm he helped create in 2005.
Facebook traded at $212.32 as of 2:40 p.m. ET, up 3.8% year-to-date.
The company has 47 "buy" ratings, seven "hold" ratings, and three "sell" ratings from analysts, with a consensus price target of $246.44, according to Bloomberg data.
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