Some Tesla Inc. experts they’ve had a couple of very busy days this week, including an investor close to chief executive Elon Musk and who has once again shown a good time in their business.
This is Elon Musk’s brother, Kimbal Musk, a Tesla TSLA,
board member and businessman, who sold $ 25.56 million worth of shares on the open market this week with all business done above $ 850, according to a record.
The last time Kimbal Musk sold shares of the electric vehicle manufacturer, he also exercised options to buy the same amount, only at a much lower price. At the time, Kimbal Musk’s sales seemed to mark a peak in stocks for more than two and a half months.
FactSet, MarketWatch
Kimbal Musk’s timing was also good this week. It sold its 30,000 shares on Feb. 9 in a series of transactions at a weighted average price of $ 852,117, according to a MarketWatch analysis of SEC data. The shares opened that day at $ 855.12 and traded in an intraday range of $ 859.80 to $ 841.75, before closing at $ 849.46.
Wednesday, the TSLA stock exchange,
fell 5.3%, with an intraday high of just $ 844.82. It rose 1% on Thursday in trading, but at $ 812.41, it was still well below where Kimbal Musk sold its shares.
These are the trades of Kimbal Musk:
• Sold: 7,971 shares at $ 850,277 (weighted average)
• Sold: 11,409 shares at $ 851,452
• Sold: 1,983 shares at $ 852,243
• Sold: 3,482 shares at $ 853,767
• Sold 3,415 shares for $ 854,805
• Sold: 1,140 shares at $ 855,927
• Sold: 600 shares at $ 856,676
FactSet, MarketWatch
After the sale, Kimbal Musk still owned 599,740 Tesla common shares, or about 0.06% of the outstanding shares. Its remaining stake is worth approximately $ 487.2 million of shares at current prices.
Tesla shares have risen 95% in the past three months, while the S&P 500 SPX index,
has gained 9.6%.
Vanguard increases its stake to be the second largest shareholder
As Kimbal sold, The Vanguard Group revealed it owned 57.81 million shares, or 6.1% of the outstanding shares, according to an SEC statement Wednesday.
This makes Vanguard the second largest shareholder, behind Elon Musk by around 18% and ahead of Capital Research & Management Co. at 5.5%, according to FactSet.
This means that Vanguard recently bought about 14.53 million shares of Tesla, as the fund manager had previously disclosed that it owned 43.28 million shares, or 4.4% of the outstanding shares, the September 30. The prices paid for the shares were not disclosed.
Board member Antonio Gracias makes a good penny by trading Tesla shares
In another SEC filing Wednesday afternoon, Tesla revealed that private equity investor Antonio Gracias, a longtime Tesla board member and close to Elon Musk, acquired earlier this week. a total of 150,747 shares at a weighted average price of $ 58,149 through the exercise of derivative securities.
On February 9, the same day that Kimbal Musk sold his shares, the file shows that Gracias sold 150,747 shares in a series of transactions. It didn’t do as well as Kimbal Musk did, however, as it sold its shares at a weighted average price of $ 846,591.
Still, Gracias earned $ 118.86 million in operations.
Here are the Gracias trades:
• Acquired: 97,000 shares at $ 52.38
• Acquired: 53,747 shares at $ 68.56
• Sold: 1,930 shares at $ 842,596 (weighted average)
• Sold: 13,256 shares at $ 843.51
• Sold: $ 22,036 shares at $ 844,372
• Sold: 22,122 shares at $ 845,364
• Sold: $ 19,320 shares at $ 846,381
• Sold: $ 19,039 shares at $ 847.36
• Sold: 34,023 shares at $ 848,404
• Sold: 18,588 shares at $ 849.32
• Sold: 433 shares at $ 850,346
After the trade, Gracias owned 2,545 Tesla common shares.
– Steve Goldstein contributed to this report.