Tesla Motors Inc (NASDAQ:TSLA) Adirector Antonio Gracias revealed in his Form 4 filing that he sold 20,000 shares of the electric vehicle maker’s stock in an open market transaction dated May 20. The shares were sold at an average price of $195.79 for a total of $3.91 million. It’s the third time he offloaded Tesla shares this month. On May 15, he sold 10,000 shares at $186.37 apiece, and on May 16, he unloaded another 10,000 shares at $188.31 per share.
Tesla begins attracting value investors
Elon Musk’s brother and Tesla Motors Inc director Kimbal Musk had sold 4,811 shares of the stock at $205.98 on May 1. Below is the list of 10 latest insider selling activities in Tesla stock. Over the last 12 months, 18 sell transactions have been recorded. After almost two years of rapid growth, even value investors like Rob Baron find Tesla attractive. Baron revealed in his quarterly letter that his fund bought into Tesla during the first quarter. Until now, most investors have called it a speculative play.
The ExodusPoint Partners International Fund returned 0.36% for May, bringing its year-to-date return to 3.31% in a year that's been particularly challenging for most hedge funds, pushing many into the red. Macroeconomic factors continued to weigh on the market, resulting in significant intra-month volatility for May, although risk assets generally ended the month flat. Macro Read More
Tesla Motors Inc is rapidly expanding its business in Asia and Europe. Last month, the company started selling Model S vehicles in China. The San Francisco-based company has partnered with Hanergy and Sinopec in China to build Supercharger network. The company is also expanding its Supercharger network to Australia. Meanwhile, a Chinese billionaire who has purchased the bankrupt Fisker brand has vowed to topple Tesla. Lu Guangiu, the owner of Wanxiang Group, is no stranger to the auto industry in China.
Tesla launching right-hand drive Model S in the UK next month
Tesla Motors Inc plans to launch its first ever right-hand drive Model S sedan in the UK next month. The company will deliver its first right-hand drive Model S Performance Plus sedan with a price tag of about £70,000 on June 7. Model S price in the UK starts at £50,280. Tesla is also building Supercharging stations in the country to provide users smooth driving experience. British government expects that Elon Musk will revolutionize the electric vehicle adoption in the country.
Tesla Motors Inc shares jumped 0.78% to $201 in pre-market trading Thursday.