Musk sold 4,287 shares of Tesla stock at the average price of $234.46. The selling of the stock was disclosed with the Securities & Exchange Commission. After the sale, Musk still has 166,435 shares TSLA stock, which is valued at roughly $39 million, reports WKRB.
Tesla’s lastest earnings report had it beating analysts’ estimates by 7 cents with earnings per share of 11 cents. It also reported revenue of $857.50 million for that quarter, WKRB notes.
Pacific Crest recently initiated coverage of Tesla and set a target price of $316 for its stock.
TSLA shares were down 1% as of Friday afternoon.