Google-parent Alphabet Inc. Chief Executive Sundar Pichai sold another chunk of shares this week, valued at nearly $7 million, as the stock surged to record highs.
A Form 4 filing with the Securities and Exchange Commission late Thursday showed that Pichai sold 3,000 shares in the open market on April 7, including 175 Class A shares and 2,825 Class C shares.
The Class A shares /zigman2/quotes/202490156/composite GOOGL +0.62% , which allows shareholders one vote per share, were sold at $2.213.10 and the Class C shares /zigman2/quotes/205453964/composite GOOG +0.73% , which have zero votes, were sold at a weighted average price of $2.233.875, according to a MarketWatch calculation of SEC data.
For reference, the internet giant’s Class A shares closed Wednesday at a record at the time of $2,239.03, and traded in an intraday range of $2,213.10 to $2,244.50, while the Class C shares traded in a range of $2,225.33 to $2,255.00 before closing at a record at the time of $2,249.68.
On Friday, the Class A shares rose 0.5% toward a record $2,262.47 in afternoon trading, while the Class C shares climbed 0.5% toward a record $2,276.61.
After the sales, Pichai still directly owned 6,407 Class A shares and 114,861 Class C shares, which at current prices are valued at a combined $275.99 million. There were 300.74 million Class A shares and 327.56 million Class C shares outstanding as of Jan. 26, according to SEC filings.
This week’s share sales come after Pichai sold a total of 6,000 shares in the open market in March, including 3,000 shares on March 17 to raise $6.23 million and 3,000 shares on March 3 valued at $6.21 million.
The open-market sales in April and March were Pichai’s first sales this year.
The Class C shares have soared 30.0% year to date, while the technology-heavy Nasdaq-100 Index /zigman2/quotes/210598364/realtime NDX +0.78% has gained 7.1% and the S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.74% has advanced 9.4%