Facebook co-founder sells 450,000 shares

August 30, 2012 - 12:45 PM
Facebook-Stock Sale-Moskovitz

FILE-In this Thursday April 26, 2012, file photo, Dustin Moskovitz co-founder of the collaborative software company Asana, poses outside of his office in San Francisco. Facebook co-founder Dustin Moskovitz has been selling 150,000 shares of Facebook stock a day out of the hundreds of millions that he owns. So far, he has shed 1.35 million shares for proceeds of $26.2 million, at prices ranging from $18.79 to $20.08. (AP Photo/Eric Risberg)

NEW YORK (AP) — Facebook co-founder Dustin Moskovitz is shedding another 450,000 company shares for a take of about $8.7 million.

Moskovitz has been selling 150,000 shares a day and disclosing the sales every three days. Including the most recent sale, he still holds more than 130 million shares.

The latest filing, made late Wednesday, covered sales from Monday to Wednesday. He sold shares at prices ranging from $19 to $19.49.

Shares of Facebook Inc., based in Menlo Park, Calif., have been in steep decline since debuting at $38 each in May. Shares hit a new low last week and haven't traded above $20 in two weeks.

Moskovitz, 28, was Mark Zuckerberg's Harvard roommate when they founded Facebook in 2004. He left in 2008 and started the software company Asana.