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Tesla shares close higher on Thursday, Chair Robyn Denholm sells company shares for over $22 million

Tesla Inc’s (TSLA) Chair Robyn Denholm has sold shares in the auto maker valued at more than $22 million after exercising stock options, a filing with the US Securities and Exchange Commission showed.

Denholm joined the electric car maker’s board as an independent director in 2014 and succeeded Chief Executive Officer Elon Musk as the company’s Chair in 2018.

Robyn Denholm sold 31,250 shares at weighted average prices that ranged between $703 and $726.200 in transactions occurring on August 2nd.

Tesla shares closed higher for a seventh consecutive trading session on NASDAQ on Thursday. The stock went up 0.52% ($3.71) to $714.63, after touching an intraday low at $711.60 and an intraday high at $720.93.

Shares of Tesla Inc have risen 1.27% so far in 2021 compared with a 17.92% gain for the benchmark index, S&P 500 (SPX).

In 2020, Tesla Inc’s stock went up 743.40%, thus, it outperformed the S&P 500, which registered a 16.26% gain.

Analyst stock price forecast and recommendation

According to TipRanks, at least 12 out of 24 surveyed investment analysts had rated Tesla Inc’s stock as “Buy”, while 7 – as “Hold”. The median price target on the stock stands at $724.43. is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

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