Elon Musk's Tesla stock sale hits $5B mark

Rebecca Bellan

Wed, November 10, 2021, 6:06 PM·2 min read

Elon Musk has sold about $5 billion worth of Tesla stock, according to a slew of regulatory filings that posted late Wednesday.

Initial filings showed Musk had sold 934,091 shares for about $1.1 billion out of more than 2.1 million options he received as part of a compensation package. Musk disclosed in a regulatory filing that he sold some of his stake to satisfy tax obligations related to exercising stock options. The CEO is facing income tax on stock gains that were awarded in 2012 at the $6.24 per share price. Musk is taxed on the income between the exercise price of $6.24 and the value of the share when it was sold. The shares were sold at prices between about $1,100 and $1,200.

Filings that posted later Wednesday revealed Musk sold another 3.58 million shares in Tesla. That sale is valued at about $4 billion.

Rebecca Bellan

Wed, November 10, 2021, 6:06 PM·2 min read

Elon Musk has sold about $5 billion worth of Tesla stock, according to a slew of regulatory filings that posted late Wednesday.

Initial filings showed Musk had sold 934,091 shares for about $1.1 billion out of more than 2.1 million options he received as part of a compensation package. Musk disclosed in a regulatory filing that he sold some of his stake to satisfy tax obligations related to exercising stock options. The CEO is facing income tax on stock gains that were awarded in 2012 at the $6.24 per share price. Musk is taxed on the income between the exercise price of $6.24 and the value of the share when it was sold. The shares were sold at prices between about $1,100 and $1,200.

Filings that posted later Wednesday revealed Musk sold another 3.58 million shares in Tesla. That sale is valued at about $4 billion.

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The stock sales followed a Twitter poll last weekend that asked his followers whether he should sell 10% of his stock, in which 57.9% voted for and 42.1% voted against. However, at least some of these shares — specifically the options — had a pre-set sale date that had been established weeks before the Twitter poll.

The stock sales news isn't exactly surprising. Musk has already said that he would sell a large block of his Tesla stock publicly before, and the SEC filing reveals that Musk was already planning to sell the stock on September 14, making his show on Twitter just that — a show. In addition, during a conversation with tech journalist Kara Swisher in September, Musk said a large portion of his stock options would expire in August 2022 and more or less promised to sell them in Q4.

Musk still holds 166.9 million Tesla shares.

https://finance.yahoo.com/news/elon-musk-sold-more-1b-010634528.html

>>14982760

Pfizer's CEO sold $5.6 million in stock the day he announced promising vaccine news

New York (CNN Business)Pfizer CEO Albert Bourla filed to sell millions of dollars of his company's stock Monday – the day the pharmaceutical giant announced positive data about its coronavirus vaccine.

The company's shares soared after Pfizer and European drug company BioNTech said early data suggests the vaccine could be more than 90% effective.

The transaction was part of a regularly scheduled plan set up by Bourla to periodically sell some of his Pfizer shares.

Bourla sold 132,508 Pfizer (PFE) shares at a price of $41.94, according to a filing with the Securities and Exchange Commission. That works out to proceeds of nearly $5.6 million.

A Pfizer spokeswoman said in an email to CNN Business that the sale took place because Pfizer shares hit a predetermined price as part of a plan authorized by Bourla on August 19.

The scientists who developed the Pfizer/BioNTech Covid-19 vaccine are a Turkish-German power couple

The scientists who developed the Pfizer/BioNTech Covid-19 vaccine are a Turkish-German power couple

When asked if Pfizer and Bourla thought to cancel the stock sale due to the perception that Bourla might be cashing in on good news, the spokeswoman said that "these are predetermined plans managed through a third-party stock administrator."

Another Pfizer officer, executive vice president Sally Susman, also sold shares Monday as part of a prearranged plan. Susman sold 43,662 shares at the same $41.94 price that Bourla sold at, a transaction valued at more than $1.8 million.

Many executives sell stock at predetermined intervals to diversify their portfolios. But they can delay the sales to avoid appearances of capitalizing on one-off events that can boost company's shares.

Bouria told CNN's Sanjay Gupta that he learned of the trial's results Sunday, a day before they were made public.

Shares of Pfizer surged nearly 8% Monday and were flat Tuesday. BioNTech's (BNTX)stock has rallied even more sharply, rising 15% Monday and another 8% Tuesday. Pfizer's stock fell more than 1% Wednesday.

EU agrees to buy 300 million doses of the Pfizer/BioNTech Covid-19 vaccine

The Pfizer stock sale comes just a few months after executives at Moderna (MRNA), a biotech also working on a Covid-19 vaccine, sold shares following the release of promising trial results.

Critics accused Moderna of overhyping the vaccine trial results, but the company nonetheless raised $1.3 billion in a stock sale immediately following the vaccine trial announcement.

Executives then sold tens of millions of dollars worth of Moderna shares before the company's stock price fizzled a week later.

Some former SEC officials called on Moderna to be investigated for potential illegal market manipulation.

https://www.cnn.com/2020/11/11/investing/pfizer-ceo-albert-bourla-stock-sale-vaccine/index.html

>>14982760

John Deere CEO sold $72,000+ in stock ahead of strike, Deere calls it charitable donation

October 16, 2021

MOLINE, Illinois — Documents filed with the Security and Exchange Commission show that John Deere CEO John C May II reported selling 1,400 shares of company Common Stock in the months leading up to the strike that has 10,000 union workers on the picket line and production at several factories shut down.

The sale, worth $72,473, began on March 25, 2021, according to the Statement of Changes in Financial Ownership form filed with the SEC and signed by the company's attorney on Tuesday, the day before the strike began.

According to financial data from the New York Stock Exchange, which lists Deere & Co, the company's stock price peaked in September 2020, before slowly falling. The fall accelerated in recent weeks as negotiations with union leaders dragged on.

May II has served as CEO of Deere & Co since November 2019 and also took on the role of Chairman in May 2020. He joined John Deere in 1997 and has served as a member of the senior management team since 2012.

Iowa's News Now reached out to John Deere for a statement. A spokeswoman tells us the shares were a charitable donation made in March and that it has "nothing to do with any current events." The SEC filing does include an explanation which states "Gift of shares to a charitable donor advised fund."

SEC FORM 4 by Nick Weig on Scribd

https://cbs2iowa.com/news/local/john-deere-ceo-sold-more-than-72000-in-company-stock-ahead-of-strike

>>14982760

AMC CEO Adam Aron sold $25 million in shares Tuesday, after warning meme investors he would do so

AMC Entertainment CEO Adam Aron sold 625,000 shares on Tuesday, half of what he ultimately plans to sell under a selling program filed with the Securities and Exchange Commission.

The sale is part of the executive’s estate planning, Aron told investors in August.

AMC shares fell 4% on Wednesday to close at $38.29 and were down another 3% in after-hours trading, following the news.

AMC Entertainment CEO Adam Aron sold 625,000 shares of the company Tuesday, half of what he ultimately plans to dump under a selling program filed with the Securities and Exchange Commission.

The sale is part of the executive’s estate planning, Aron told investors in August. He reiterated those plans during an earnings call with investors and analysts Monday.

The share sale was disclosed on the SEC’s website after the bell Wednesday. The stake was sold at an average price of $40.53, giving it a value of about $25 million.

AMC shares fell 4% on Wednesday to close at $38.29 and were down another 3% in after-hours trading.

Earlier in the day, Aron’s share plans were disclosed in a separate filing that appeared on a section of the SEC website that displays paper forms submitted via email.

The form gave Aron the right to sell the entire stake of 1.25 million shares now or over the coming days, weeks and months, said Ben Silverman, director of research at InsiderScore.

With the new filing after the bell, investors learned he had already dumped half the stake the day before.

Aron currently holds around 400,000 shares of unrestricted stock and 3.3 million shares of unvested restricted stock. This suggests that he needs to wait until some of that restricted stock vests in order to complete the sale of all 1.25 million shares, Silverman said.

Representatives for AMC, when asked for comment, reiterated Aron’s statements during Monday’s earnings call.

“On our last call, I also pointed out to you that in September of 2021, I would turn 67 years of age — a youthful, vibrant, vigorous full-of-life 67, I might add, but 67 nonetheless,” he told investors on the call. “Prudent estate planning suggests I should diversify my assets a bit, especially with Congress having been discussing imposing potentially soaring capital gains tax rates and significant changes to what can be passed on to one’s heirs.”

Aron once again told investors that during his almost six years with AMC he had never sold any of his stock, save for the 500,000 shares he gifted to his adult children.

“If you do the math, you will see that with this much current and future ownership of AMC, I have an enormous personal stake in the future of our company — of your company — of AMC Entertainment,” he said. “I fervently believe in AMC and my interests are very much aligned with our broad shareholder base to care very much about the value of your ongoing investment, and my ongoing investment, in AMC Entertainment stock.”

Shares of AMC have soared more then 1,700% this year, buoyed by this year’s meme-stock craze.

The movie theater chain was hit hard by the pandemic and nearly filed for bankruptcy in late 2020. However, a surge in its stock allowed it to gain nearly $2 billion in liquidity and steady itself as the box office began to rebound.

During the third quarter, the company saw admission revenue rise to $425.1 million from $62.9 million in the year-ago period. Its food and beverage sales also surged to $265.2 million from just $29.1 million on a year-over-year basis.

Still, AMC’s operating costs outpaced its revenue, leading the company to post a loss for the quarter. The company said if the domestic box office reaches at least $2 billion during the months of October, November and December, it would be able to post positive cash flow for the fourth quarter.

Correction: This story has been updated to reflect Adam Aron’s correct age.

https://www.cnbc.com/2021/11/10/amc-ceo-adam-aron-files-to-sell-1point25-million-shares-after-warning-meme-investors-he-would-do-so.html

>>14982760

Arista Networks Insider Sold $24M In Company Stock

Arista Networks Insider Sold $24M In Company Stock

Benzinga Insights , Benzinga Staff Writer

November 09, 2021 11:08am 1 min read Comments

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Arista Networks Insider Sold $24M In Company Stock

Jayshree Ullal, President And CEO at Arista Networks (NYSE:ANET), made a large insider sell on November 8, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Ullal sold 47,000 shares of Arista Networks at prices ranging from $521.00 to $530.50. The total transaction amounted to $24,715,000.

Ullal still owns a total of 1,882,998 shares of Arista Networks worth, $995,654,022.

Arista Networks shares are trading up 0.44% at $528.76 at the time of this writing on Tuesday morning.

https://www.benzinga.com/news/21/11/23985140/arista-networks-insider-sold-24m-in-company-stock

>>14982760

Kaiser Aluminum Co. (NASDAQ:KALU) CEO Sells $52,500.00 in Stock

Kaiser Aluminum Co. (NASDAQ:KALU) CEO Keith Harvey sold 500 shares of the company's stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $105.00, for a total value of $52,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Keith Harvey also recently made the following trade(s):

On Friday, October 1st, Keith Harvey sold 1,000 shares of Kaiser Aluminum stock. The stock was sold at an average price of $109.74, for a total value of $109,740.00.

Shares of NASDAQ:KALU traded up $6.36 during trading on Friday, hitting $107.34. The company had a trading volume of 159,973 shares, compared to its average volume of 111,960. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -119.27 and a beta of 1.24. Kaiser Aluminum Co. has a one year low of $64.78 and a one year high of $141.07. The company has a fifty day simple moving average of $111.46 and a two-hundred day simple moving average of $120.02. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.75 and a quick ratio of 1.82.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Tuesday, October 19th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.75). The company had revenue of $750.60 million during the quarter, compared to the consensus estimate of $782.96 million. Kaiser Aluminum had a negative net margin of 0.68% and a positive return on equity of 5.65%. Kaiser Aluminum's revenue for the quarter was up 193.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. On average, equities research analysts anticipate that Kaiser Aluminum Co. will post 4.06 earnings per share for the current year.

[more but difficult to copy paste]

https://www.marketbeat.com/instant-alerts/nasdaq-kalu-insider-buying-and-selling-2021-11

>>14982760

Insider Selling: Caleres, Inc. (NYSE:CAL) CEO Sells 2,626 Shares of Stock

Caleres, Inc. (NYSE:CAL) CEO Diane M. Sullivan sold 2,626 shares of Caleres stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $27.00, for a total value of $70,902.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of Caleres stock opened at $26.24 on Friday. The business’s 50 day simple moving average is $23.52 and its 200 day simple moving average is $24.67. Caleres, Inc. has a 52-week low of $9.73 and a 52-week high of $29.36. The firm has a market cap of $1.00 billion, a PE ratio of -43.73 and a beta of 2.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.25 and a current ratio of 0.82.

Get Caleres alerts:

Caleres (NYSE:CAL) last announced its earnings results on Monday, August 30th. The textile maker reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.65. Caleres had a positive return on equity of 38.49% and a negative net margin of 0.75%. The business had revenue of $675.53 million for the quarter, compared to analyst estimates of $640.40 million. During the same quarter last year, the firm earned ($0.57) EPS. Caleres’s revenue for the quarter was up 34.7% compared to the same quarter last year. As a group, equities research analysts predict that Caleres, Inc. will post 3.3 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Friday, September 10th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, September 9th. Caleres’s dividend payout ratio (DPR) is -46.67%.

Several research firms have recently weighed in on CAL. Loop Capital lifted their price objective on Caleres from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, September 7th. Zacks Investment Research lowered Caleres from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 2nd.

Several large investors have recently bought and sold shares of CAL. First Trust Advisors LP increased its position in shares of Caleres by 28.8% during the 1st quarter. First Trust Advisors LP now owns 58,242 shares of the textile maker’s stock worth $1,438,000 after purchasing an additional 13,035 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Caleres by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 607,790 shares of the textile maker’s stock worth $13,249,000 after purchasing an additional 62,055 shares during the last quarter. Citigroup Inc. increased its position in shares of Caleres by 4.7% during the 1st quarter. Citigroup Inc. now owns 30,772 shares of the textile maker’s stock worth $671,000 after purchasing an additional 1,377 shares during the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Caleres during the 1st quarter worth approximately $1,480,000. Finally, Nuveen Asset Management LLC increased its position in shares of Caleres by 50.7% during the 1st quarter. Nuveen Asset Management LLC now owns 306,368 shares of the textile maker’s stock worth $6,679,000 after purchasing an additional 103,115 shares during the last quarter. 83.45% of the stock is currently owned by hedge funds and other institutional investors.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear. It operates through the following segments: Famous Footwear, Brand Portfolio, and Other. The Famous Footwear segment provides brand-name athletic, casual, and dress shoes for the entire family. The Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing, developing, sourcing, manufacturing, and marketing branded footwear for women and men.

https://mayfieldrecorder.com/2021/11/12/insider-selling-caleres-inc-nysecal-ceo-sells-2626-shares-of-stock.html

>>14982760

President And CEO And Community Banking Of Pacwest Banc Sold $295K In Stock

President And CEO And Community Banking Of Pacwest Banc Sold $295K In Stock

Benzinga Insights , Benzinga Staff Writer

November 10, 2021 11:46am 2 min read Comments

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President And CEO And Community Banking Of Pacwest Banc Sold $295K In Stock

Christopher Blake, President. And CEO And Community Banking at Pacwest Banc (NASDAQ:PACW), made a large insider sell on November 8, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Blake sold 6,000 shares of Pacwest Banc at prices ranging from $49.09 to $50.00. The total transaction amounted to $297,275.

Blake still owns a total of 25,035 shares of Pacwest Banc worth, $1,236,603.

Pacwest Banc shares are trading down 0.05% at $49.4 at the time of this writing on Wednesday morning.

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https://www.benzinga.com/news/21/11/24015331/president-and-ceo-and-community-banking-of-pacwest-banc-sold-295k-in-stock>

>>14982760

CTS Co. (NYSE:CTS) CFO Ashish Agrawal Sells 20,600 Shares

CTS Co. (NYSE:CTS) CFO Ashish Agrawal sold 20,600 shares of the company’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $37.59, for a total transaction of $774,354.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ashish Agrawal also recently made the following trade(s):

On Monday, November 8th, Ashish Agrawal sold 9,400 shares of CTS stock. The stock was sold at an average price of $37.81, for a total transaction of $355,414.00.

Shares of CTS stock opened at $36.81 on Wednesday. CTS Co. has a one year low of $28.72 and a one year high of $39.49. The company’s 50-day moving average price is $33.20. The stock has a market cap of $1.19 billion, a P/E ratio of 20.12 and a beta of 0.78. The company has a quick ratio of 2.16, a current ratio of 2.64 and a debt-to-equity ratio of 0.11.

CTS (NYSE:CTS) last announced its quarterly earnings data on Wednesday, October 27th. The electronics maker reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.09. CTS had a negative net margin of 7.17% and a positive return on equity of 13.67%. The company had revenue of $122.40 million for the quarter, compared to the consensus estimate of $117.10 million. During the same period in the prior year, the firm posted $0.34 EPS. CTS’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts anticipate that CTS Co. will post 1.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Friday, December 10th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Thursday, December 9th. CTS’s dividend payout ratio (DPR) is -14.41%.

Several brokerages recently issued reports on CTS. TheStreet lowered shares of CTS from a “b” rating to a “c” rating in a research note on Wednesday, October 27th. Zacks Investment Research upgraded shares of CTS from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Thursday, November 4th. Finally, Cowen lowered shares of CTS from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $40.00 to $34.00 in a research note on Thursday, October 14th.

A number of hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC grew its position in CTS by 6.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 4,599 shares of the electronics maker’s stock valued at $171,000 after purchasing an additional 279 shares during the last quarter. PNC Financial Services Group Inc. grew its position in CTS by 2.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,571 shares of the electronics maker’s stock valued at $419,000 after purchasing an additional 325 shares during the last quarter. CWM Advisors LLC boosted its holdings in shares of CTS by 3.1% during the 2nd quarter. CWM Advisors LLC now owns 11,550 shares of the electronics maker’s stock valued at $429,000 after acquiring an additional 350 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of CTS by 2.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 22,380 shares of the electronics maker’s stock valued at $831,000 after acquiring an additional 487 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of CTS by 30.4% during the 2nd quarter. Lazard Asset Management LLC now owns 2,562 shares of the electronics maker’s stock valued at $95,000 after acquiring an additional 597 shares during the last quarter. 89.12% of the stock is currently owned by institutional investors.

CTS Company Profile

CTS Corp. engages in the design and manufacture of sensors, connectivity components, and actuators. Its products include controls, pedals, piezo sensing products, sensors, switches, transducers, electromagnetic and radio frequency interference filters, capacitors, frequency control, resistors, piezo microactuators, and rotary microactuators.

https://www.thestockobserver.com/2021/11/10/cts-co-nysects-cfo-ashish-agrawal-sells-20600-shares.html

>>14983165

Seinfeld - The Tractor Story