Insider Selling: Seth R. Weissman Sells 7,000 Shares of SolarCity Corp Stock (SCTY)
SolarCity Corp (NASDAQ:SCTY) EVP Seth R. Weissman sold 7,000 shares of SolarCity Corp stock on the open market in a transaction dated Friday, June 27th. The stock was sold at an average price of $70.80, for a total value of $495,600.00. Following the completion of the transaction, the executive vice president now directly owns 158,777 shares in the company, valued at approximately $11,241,412. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on SCTY. Analysts at Roth Capital raised their price target on shares of SolarCity Corp from $65.00 to $80.00 in a research note on Wednesday, June 18th. Separately, analysts at Robert W. Baird raised their price target on shares of SolarCity Corp from $75.00 to $80.00 in a research note on Friday, May 9th. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of SolarCity Corp in a research note on Thursday, May 8th. They now have a $75.00 price target on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. SolarCity Corp has a consensus rating of “Buy” and a consensus target price of $79.25.
SolarCity Corp (NASDAQ:SCTY) traded down 0.38% during mid-day trading on Monday, hitting $70.60. The stock had a trading volume of 3,602,967 shares. SolarCity Corp has a one year low of $28.31 and a one year high of $88.35. The stock’s 50-day moving average is $56.37 and its 200-day moving average is $63.23. The company’s market cap is $6.502 billion.
SolarCity Corp (NASDAQ:SCTY) last announced its earnings results on Wednesday, May 7th. The company reported ($0.26) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.74) by $0.48. The company had revenue of $63.54 million for the quarter, compared to the consensus estimate of $53.39 million. During the same quarter in the prior year, the company posted ($0.41) earnings per share. The company’s quarterly revenue was up 111.9% on a year-over-year basis. On average, analysts predict that SolarCity Corp will post $-3.86 earnings per share for the current fiscal year.
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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