Last week, the CEO and 10% Owner of Tesla Motors (
) Elon Musk made a $100,000,000 buy into his company. The CEO
bought a total of 1,084,129 shares of Tesla Motors at $92.24 per
share. This buy cost him exactly $100,000,058.96 and represents
the priciest insider buy reported for the company.
This buy is also the first insider buy for the company since
Musk's buy in October 2012. Musk currently holds over 28 million
shares of his company's stock. Since his most recent buy, the
price per share has gone up 0.38%.
Elon Musk is a South African-American entrepreneur. He is best
known for founding SpaceX and co-founding Tesla Motors and
PayPal. Forbes recognizes him as ranked No. 181 richest of
America's Billionaires, No. 66 Powerful People and No. 190 in the
Forbes 400. As of March 2013, his net worth is estimated at $2.7
billion. Alongside his stake in Tesla Motors, Musk maintains a
chairman position and 10% ownership of SolarCity, a company run
by Musk's cousin Lyndon Rive.
Tesla Motors was founded in 2003 in the Silicon Valley of
California. The company is headquartered in Palo Alto, Calif.,
and currently maintains 31 stores and service locations
worldwide. Tesla Motors designs, develops, manufactures and sells
high-performance fully electric vehicles and advanced electric
vehicle powertrain components. It owns its sales and service
network and has operationally structured its business in a manner
that it believes will enable it to rapidly develop and launch
advanced electric vehicles and technologies.
Tesla's first quarter results reported:
� The gross margin doubled from the previous quarter
� Reached record sales of $562 million, up 83% from
the previous quarter.
� Delivered 4,900 vehicles.
� The U.S. demand expected to exceed 15,000 per year.
on Tesla Motors reports:
� The company has issued $404.712 million of debt in
the past three years.
� The company's price is sitting near its all-time
high of $97.76.
on the company show that Tesla Motors' revenue growth has shot up
335.7% in the past year alone. Since the beginning of the year,
the price per share has shot up approximately 173%.
Tesla Motors has a market cap of $11.49 billion; its shares were
traded at around $92.59 with a P/S ratio of 11.70.
There are currently seven gurus that maintain shares of Tesla
Motors. To see these gurus and the shares they hold, click here.
Tesla Motors is holding its 2013 Annual Stockholder Meeting
tomorrow at 3:00 p.m. PT.About GuruFocus: GuruFocus.com tracks
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