It’s not just Elon Musk: this is Tesla’s other people have been selling shares

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Compared with his brother Elon’s sale of Tesla shares worth $5.7 billion from Monday to Thursday this week, the dollar value of his sales pales in comparison.But this accounted for a much larger percentage of the shares he holds Tesla (Tesla) – Kimbal’s stake in the company is approximately 15%. As of Thursday, Elon’s shares have fallen by only 3% through his sales.

Although Elon Musk’s sale is his first Tesla stock sale since 2016, Kimbal Musk has been selling his stock regularly. The same is true for many other executives and board members of the world’s most valuable car manufacturer.

The company’s chairman Robyn Denholm has been selling stocks regularly since he assumed the supervisory role of the board at the end of 2018. In the past two years, every time she exercised the options she received as part of her salary, she would immediately sell all of her stocks. Just got it.
Zachary Kirkhorn, Tesla The so-called Coin Master, who once had a more standard CFO title, has also been selling stocks on a regular basis.

Leave money on the table

These three people may all be poor people doing this. Tesla’s share price has performed unbelievably over the past two years. Since the company’s profitability in the third quarter of 2019 surprised investors, the share price has risen by nearly 2,000%. This opened a series of profitable quarters. Before the October 2019 report was released, many investors were concerned that the company might face a cash shortage.
This stock rise makes Tesla the sixth US company with a valuation of US$1 trillion, realizing The market value exceeds the total market value of the 12 largest automakers on the planet and makes Elon Musk the richest person in the world.

Many insider trading is to diversify their holdings, and may not necessarily predict the direction of the stock. For Tesla insiders, diversification is not necessarily the best strategy.

Daniel Ives, a technical analyst at Wedbush Securities, said: “The irony is that they left hundreds of millions of dollars by selling early.”

Kimbal Musk’s sales

Since October 2019, Kimbal Musk has sold 525,00 shares after the split adjustment, and therefore received US$189 million, with an average price of US$360 per share. If he still owns all these shares, their current value will be $369 million higher than the value he received. The number of shares he holds will be more than twice what he currently holds.

Some of Kimbal Musk’s sales are carried out using the “Rule 10b5-1 Trading Plan,” an SEC rule that allows company insiders to sell shares on a pre-arranged timetable so that they will not be charged with the company. The news while trading. He also sold some stocks that did not mention such plans.

For example, in February 2021, Kimbal Musk sold Tesla stock worth $25.6 million, but the document did not mention any trading plans. In the next four weeks, Tesla shares fell 33%. After the sale, it seems that nothing happened without public information at the time of the sale, but his expectations of the market are quite good, at least in the short term.

Since that sale, Tesla’s stock has made up for this loss, when his stock was sold at an average price of $852. They are now trading at more than $1,000, even though his brother’s stock sales have caused a decline recently.

Last week, Kimbal Musk’s sales before his brother started selling shares did not mention the Rule 10b5-1 trading plan.

Zachary Kirkhorn’s sales

Almost all of Kirkhorn’s sales were made through the rule 10b5-1 planned transaction, although the company made some additional sales to cover the withholding tax he owed on the exercise of stock options, which was part of his compensation.

In most months, he sold 750 to 1,250 shares on a split adjustment basis. In the past two years, 25,250 shares have been sold at an average price of $503 per share, which is about half of the current value. This brought him $12.7 million.

Robin Danhome Sales

Denholm did not mention any trading plans in the documents of the past two years. On the basis of the split adjustment, she sold nearly 412,000 shares of Tesla, making her 5,000 shares of Tesla the same as before the stock price began to rise two years ago.

The stock she holds comes from the exercise of stock options, and the cost of these stock options is only a small part of her market value, generating a profit of $200 million. She would do better if she held the stocks she acquired and sold immediately, which are worth $438 million.

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