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April 9, 2021, 2:16 p.m. EDT

Alphabet CEO Pichai sells more stock as prices rally to a record

Tomi Kilgore

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 (NAS:GOOGL) , which allows shareholders one vote per share, were sold at $2.213.10 and the Class C shares (NAS:GOOG) , 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 (AMERICAN:NDX) has gained 7.1% and the S&P 500 index (S&P:SPX) has advanced 9.4%

Link to MarketWatch's Slice.