WebProNews

As Google stock approaches $400 per share, the Central Intelligence Agency has decided to get while the getting is good. The CIA's venture capital firm, In-Q-Tel, announced a plan sale of Google stock on November 4th.

In-Q-Tel, which also owns stock in Intelliseek and PiXlogic, announced a sell-off of 5,636 shares of Google stock for estimated proceeds of over $2.2 million. In-Q-Tel gained Google shares through Google's acquisition of satellite mapping company, Keyhole.

Since Google's third quarter announcement of a sevenfold increase in profits, the price Google shares skyrocketed to reach a height of $397.47. As WebProNews' David Utter reported yesterday, some sources predict Google stock to climb to as high as $430, a substantial climb from the initial public stock offering of $85 over a year ago.

Via Inside Google

Jason L. Miller is a staff writer for WebProNews covering technology and business.