investing.com. Here are some of the biggest insider trading stories from InvestingPro over the past week.
On Friday, The Wall Street Journal wondered if Tesla (NASDAQ :) CEO Elon Musk had any significant insight into the slowdown in sales when he recently sold tens of millions of shares in the company.
Musk sold 22 million shares in December following additional sales he made earlier in 2022, selling more than 94 million shares during the year for an average exit price of $243.46 per share. Despite Musk saying last April that he had no plans to sell more shares, Musk has now sold nearly $40 billion worth of Tesla shares since the stock hit an all-time high in November 2021.
Guggenheim recently downgraded Tesla ahead of fourth-quarter results due next Tuesday, noting that the company sees a negative stock growth trajectory in the short to medium term. Earlier this month, the company announced that vehicle deliveries for the quarter were well below its forecast. The consensus estimate for the fourth quarter is $1.15 in earnings per share and $24.68 billion in revenue.
Shares are up 14.5% for the week, part of an ongoing partial recovery from last year’s sharp fall.
In other insider trading news last week, Michael Kerr, head of EOG Resources (NYSE:) bought 20,000 shares on December 23, 2001 at $130.4927. The purchase price was about $2.6 million.
The company will publish its fourth-quarter results on February 23, with a consensus estimate of $3.48 in earnings per share and $5.98 billion in revenue.
Chief Financial Officer of Keurig Dr Pepper (NASDAQ:) Inc. Sudhanshu Shekhar Priyadarshi bought 10,000 shares on January 18, 2023 at $35. The purchase price was $350,000.
The company will release its fourth-quarter results on February 23, with a consensus estimate of $0.50 in earnings per share and $3.79 billion in revenue.
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