Andreessen Pares Facebook Stake With Stock Price Near High
Board member unloaded about three-fourths of his holdings
Facebook reported third-quarter revenue that beat estimates
Cordell Eddings and Caleb Melby
Web-browser pioneer and investor Marc Andreessen has sold almost three-quarters of his Facebook Inc. stock for about $160 million since the end of October, according to regulatory filings.
Andreessen, famed for helping seed Facebook and a board member since 2008, unloaded 1.51 million shares as the company’s stock hovers near an all-time high, more than three years after the social-networking company went public in May 2012.