Elon Musk’s brother Kimbal just sold some Tesla stock. Did he just call a top?


A few Tesla Inc. insiders have had a busy couple of days this week, including one investor who is close to Chief Executive Elon Musk and again showing some good timing in his trades.

That’s Elon Musk’s brother Kimbal Musk, a Tesla
TSLA,
+0.53%

board member and entrepreneur, who sold $25.56 million worth of shares in the open market this week with all the trades made above $850, according to a filing.

The last time Kimbal Musk sold shares of the electric vehicle maker, he also exercised options to buy the same amount, just at a much lower price. At the time, Kimbal Musk’s sales seemed to mark a high for the stock for more than 2 1/2 months.


FactSet, MarketWatch

Kimbal Musk’s timing was good this week, too. He sold his 30,000 shares on Feb. 9 in a series of trades at a weighted-average price of $852.117, according to a MarketWatch analysis of SEC data. The stock opened that day at $855.12 and traded in an intraday range of $859.80 to $841.75, before closing at $849.46.

On Wednesday, the stock
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dropped 5.3%, with an intraday high of just $844.82. It rose 1% in midday trading Thursday, but at $812.41, it was still well below where Kimbal Musk sold his stock.

Here are Kimbal Musk’s trades:

• Sold: 7,971 shares at $850.277 (weighted average)

• Sold: 11,409 shares at $851.452

• Sold: 1,983 shares at $852.243

• Sold: 3,482 shares at $853.767

• Sold 3,415 shares at $854.805

• Sold: 1,140 shares at $855.927

• Sold: 600 shares at $856.676


FactSet, MarketWatch

After the sale, Kimbal Musk still owned 599,740 Tesla common shares, or about 0.06% of the shares outstanding. His remaining stake is worth about $487.2 million shares at current prices.

Tesla’s stock has run up 95% over the past three months, while the S&P 500 index
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-0.26%

has gained 9.6%.

Vanguard increases stake to be the second largest shareholder

While Kimbal sold, The Vanguard Group disclosed that it owned 57.81 million shares, or 6.1% of the shares outstanding, according to an SEC filing Wednesday.

That now makes Vanguard the second-largest shareholder, behind Elon Musk at about 18% and ahead of Capital Research & Management Co. at 5.5%, according to FactSet.

That means Vanguard recently bought about 14.53 million Tesla shares, as the fund manager had previously disclosed that it owned 43.28 million shares, or 4.4% of the shares outstanding, as of Sept. 30. Prices paid for the shares were not disclosed.

Board member Antonio Gracias makes a pretty penny trading Tesla shares

In another SEC filing late Wednesday, Tesla disclosed that private-equity investor Antonio Gracias, a longtime Tesla board member and close to Elon Musk, acquired earlier this week a total of 150,747 shares at a weighted average price of $58.149 through the exercising of derivative securities.

On Feb. 9, the same day Kimbal Musk sold his stock, the filing shows Gracias sold 150,747 shares in a series of trades. He didn’t do as well as Kimbal Musk, however, as he sold his shares at a weighted average price of $846.591.

Still, Gracias made $118.86 million on the trades.

Here are the Gracias’s trades:

• Acquired: 97,000 shares at $52.38

• Acquired: 53,747 shares at $68.56

• Sold: 1,930 shares at $842.596 (weighted average)

• Sold: 13,256 shares at $843.51

• Sold: 22,036 shares at $844.372

• Sold: 22,122 shares at $845.364

• Sold: 19,320 shares at $846.381

• Sold: 19,039 shares at $847.36

• Sold: 34,023 shares at $848.404

• Sold: 18,588 shares at $849.32

• Sold: 433 shares at $850.346

After the trade, Gracias owned 2,545 common Tesla shares.

–Steve Goldstein contributed to this report.



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