SolarCity Corp CEO Lyndon R. Rive Sells 160,000 Shares (SCTY)
SolarCity Corp (NASDAQ:SCTY) CEO Lyndon R. Rive unloaded 160,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $52.25, for a total value of $8,360,000.00. Following the transaction, the chief executive officer now directly owns 779,257 shares in the company, valued at approximately $40,716,178. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
SolarCity Corp (NASDAQ:SCTY) traded down 0.51% during mid-day trading on Tuesday, hitting $52.63. The stock had a trading volume of 5,082,066 shares. SolarCity Corp has a 52 week low of $23.50 and a 52 week high of $88.35. The stock has a 50-day moving average of $62.0 and a 200-day moving average of $62.43. The company’s market cap is $4.816 billion.
SolarCity Corp (NASDAQ:SCTY) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.46) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.55) by $0.09. The company had revenue of $37.45 million for the quarter, compared to the consensus estimate of $45.27 million. During the same quarter last year, the company posted ($0.54) earnings per share. SolarCity Corp’s revenue was up 98.7% compared to the same quarter last year. On average, analysts predict that SolarCity Corp will post $-2.67 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird upgraded shares of SolarCity Corp from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 17th. They now have a $75.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of SolarCity Corp in a research note on Friday, April 4th. Finally, analysts at Raymond James upgraded shares of SolarCity Corp from a “market perform” rating to an “outperform” rating in a research note on Friday, March 28th. They now have a $75.00 price target on the stock, up previously from $60.74. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. SolarCity Corp has a consensus rating of “Buy” and a consensus target price of $76.00.
SolarCity Corporation (NASDAQ:SCTY) is engaged in the design, installation and sale or lease of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers.
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