Facebook COO Sheryl Sandberg sells 1, 76,452 shares for $6.8 million

Social media giant Facebook’s Chief Operating Officer reportedly sold her shares in the company at 38.52 dollars each as the stock neared its highest closing levels ever.

COO Sheryl Sandberg sold 1, 76, 452 shares in the company on August 22 totaling to 6.8 million dollars, Fox News reports.

According to a form 4 filing with the Securities and Exchange Commission, Facebook shares closed on Thursday at 38.55 dollars, representing a 1.4 percent gain from the May 2012 IPO price but a 45 percent rebound from the day of the company's last earnings report, which blew through estimates.

The company’s stocks notched a new closing on Friday with 40.55 dollars and the stocks are more popular now than it was at the time of the company’s IPO, the report added.