by William White | August 8, 2014 2:19 pm
Tesla Motors (TSLA) Director Kimbal Musk sold $1 million worth of TSLA stock on Monday.
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.
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