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Facebook Co-Founder Dustin Moskovitz Sells More Stock

Facebook CEO Mark Zuckerberg speaking - H 2011
Justin Sullivan/ Getty Images

Mark Zuckerberg's Harvard roommate further reduced his holding as the stock started the week with another drop and the CEO prepared to address a tech conference.

Facebook co-founder Dustin Moskovitz has sold more stock in the social network, whose shares have fallen since their IPO in May.

In a latest regulatory filing, it emerged that the former Harvard roommate of CEO Mark Zuckerberg sold another 5.7 million shares in the latest insider sale.

Facebook's stock on Monday closed down slightly at $18.81, giving the company a market value of $40.3 billion. The stock has traded as high as $45 and as low as $17.55.

Meanwhile, Zuckerberg is scheduled to address the TechCrunch Disrupt  conference in San Francisco Tuesday evening. The appearance marks his first on-stage speaking engagement since Facebook's much-maligned IPO and his first public comments since the company's second-quarter earnings conference call.

Last week, Facebook said in a filing that Zuckerberg wouldn't sell any stock in the company for a year and that two high-profile board members also had no plans to sell their personal stakes.

Last month, director Peter Thiel sold the majority of his Facebook stock after restrictions on insider sales expired.

Email: Georg.Szalai@thr.com
Twitter: @georgszalai