Lawrence Page, Chief Executive Officer of Google, Inc. (NASDAQ:GOOG), sold a bulk of 33,332 company shares, directly, on Thursday. The insider unloaded 16,666 shares of Class A Common Stock in several small sums, paying between $577.36 and $588.48 per share, and 16,666 shares of Class C Capital Stock, which were sold at prices ranging between $569.34 and $579.88 per share. Following the disposition, Page now holds no more Common Stock, and a total of 23,270,248 shares of Class C Capital Stock.
While insider stock sales have been common at the $406.8 billion market cap technology giant this quarter, several hedge funds have also decreased the firm’s participation in their portfolios. Ken Griffin’s Citadel Investment Group, for example, decreased its portfolio holdings by 33% and now holds 760,560 shares, worth $847.6 million. However, Eagle Capital Management, run by Boykin Curry, still maintains its leading shareholder position, with 797,297 Google shares at a value of $888.5 million accounting for 3.6% of the hedge fund’s portfolio.