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TSLA Directors Sell $153 Million

Mike Stein - Senior Research Associate

[Click here to read this article on EZ-Insider]

As shown on the graph below, shares of Tesla Inc. (TSLA) have surged since mid-2019, and hit an all-time high of $900.40 on Jan. 25. On Feb. 8 and Feb. 9, the following directors sold a total of 180,747 shares of the electric vehicle company for a total of approximately $153 million. Their aggregate sale marks the largest combined monthly disposition in TSLA's history.

  • On Feb. 8 and Feb. 9, Director Antonio J. Gracias sold a total of 150,747 shares, which he acquired via the exercise of stock options expiring in June 2022 and June 2025. The $127.6 million disposition is Gracias' largest of 16 at TSLA. The trade is brokered by Goldman Sachs. Gracias sold at an average price approximately 6% below the January high.
  • Director Kimbal Musk sold 30,000 shares on Feb. 9. Per a concurrent Form 144, Musk acquired the shares via the conversion of Series E preferred shares, and the trade is brokered by JP Morgan Securities. The $25.6 million sale is Musk's largest of 41 at the company, and decreased his holdings by 4.8%. Musk sold at a price 5.4% below the recent high.

While neither insider boasts a high Insider Rating of their sales, the size of their collective disposition is worth noting. Their dispositions could imply an opportunity for investors to take profits from the stock following its' significant rise over the past few years.

[After this article was originally published on Feb. 11, Vice President of Powertrain and Energy Engineering Andrew D. Baglino and President of Automotive Jerome M. Guillen reported selling an aggregate of 14,000 shares on Feb. 10. Their sales bring this month's aggregate selling total by insiders to $164.6 million.]


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