Google CEO Lawrence Page sells 28,000 Shares
Lawrence Page is the co-founder of Google and a computer scientist. He is the current CEO for the company, and is estimated to be worth $19.8 billion dollars. Page attended Stanford University, and got his Ph.D. there. He got the idea of Google from his supervisor, and built the multi-billion dollar company with Sergey Brin, another Stanford Ph.D. student.
David Winters bought 7,500 shares in the quarter that ended on 03/31/2011, which is 0.74% of the $592 million portfolio of Wintergreen Advisors. George Soros owns 116,208 shares as of 03/31/2011, an increase of 85.4% from the previous quarter. This position accounts for 1.0621% of the $6.42 billion portfolio of Soros Fund Management LLC. Mark Hillman owns 2,490 shares as of 03/31/2011, a decrease of 25.91% of from the previous quarter. This position accounts for 0.35% of the $415 million portfolio of Hillman Capital Management. Glenn Greenberg owns 117,396 shares as of 03/31/2011, a decrease of 26.27% of from the previous quarter. This position accounts for 5.89% of the $1.17 billion portfolio of Brave Warrior Capital Inc.
SVP & CFO Patrick Pichette sold 1,654 shares of GOOG stock on 07/05/2011 at the average price of 525.32. The price of the stock has increased by 1.65% since. SVP and Chief Business Officer Nikesh Arora sold 6,607 shares of GOOG stock on 07/07/2011 at the average price of 550. The price of the stock has decreased by 2.91% since. Many other insiders have also reduced their positions in the company.
Google reported revenues of $8.58 billion for the quarter ended March 31, 2011, an increase of 27% compared to the first quarter of 2010. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs. In the first quarter of 2011, traffic acquisition costs totaled $2.04 billion, or 25% of advertising revenues.
“We had a great quarter with 27% year-over-year revenue growth,” said Patrick Pichette, CFO of Google. “These results demonstrate the value of search and search ads to our users and customers, as well as the extraordinary potential of areas like display and mobile. It's clear that our past investments have been crucial to our success today — which is why we continue to invest for the long term.”