Peter Thiel Sells Majority of His Facebook Stake

The Facebook director cashes out

Facebook Inc (FB: 20.01, +0.96, +5.04%) director Peter Thiel sold roughly 20 million shares in the Internet social networking company last week, cashing out the majority of his stake, according to a regulatory filing.

Thiel sold his shares on Thursday and Friday, at prices ranging between $19.27 and $20.69 per share, as the first "lock-up" barring early investors and insiders from selling shares after the initial public offering was lifted.