Netflix CEO And Microsoft Support Facebook Stock

Not everyone is dumping Facebook stock like dirty laundry. Netflix CEO Reed Hastings purchased roughly $1 million in shares of the social network, and Microsoft is reportedly holding onto its stake in the company.

Bloomberg reported Friday that Microsoft will not dump any of its Facebook stock, when companies are able to do Aug. 16, following a ban on sales. The software giant owns 26.2 million shares in Facebook, roughly 1.7 percent. Microsoft’s stake is worth nearly $572 million. The company sees Facebook stock as a strategic investment instead of a short-term moneymaker, according to Bloomberg.

Shareholders are growing antsy, even as Facebook CEO and Co-Founder Mark Zuckerberg laid out plans to make money off mobile users in the first earnings call since the company went public. Facebook Chief Financial Officer David Ebersman met with major investors on Friday in New York to quiet concerns and answer questions.

While Microsoft apparently plans to hang on to what Facebook stock it has, the top executive of Netflix (who is also a Facebook board member) has purchased several shares of the company. The Wall Street Journal reported Friday that Hastings’ filing with the U.S. Securities and Exchange Commission shows that he purchased roughly $1 million in Facebook stock, or 47,846 shares.

Readers: If you had massive amounts of Facebook shares, would you buy, sell or keep them?

Image courtesy of Shutterstock.

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