Seth R. Weissman Sells 2,883 Shares of SolarCity Corp. (SCTY) Stock
SolarCity Corp. (NASDAQ:SCTY) EVP Seth R. Weissman sold 2,883 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $19.72, for a total transaction of $56,852.76. Following the transaction, the executive vice president now directly owns 64,650 shares in the company, valued at approximately $1,274,898. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
SolarCity Corp. (NASDAQ:SCTY) traded up 1.6181% during midday trading on Friday, hitting $20.7301. The stock had a trading volume of 2,644,054 shares. The stock’s 50-day moving average is $19.87 and its 200-day moving average is $21.72. The stock’s market capitalization is $2.09 billion. SolarCity Corp. has a 1-year low of $16.20 and a 1-year high of $58.87.
SolarCity Corp. (NASDAQ:SCTY) last issued its quarterly earnings data on Wednesday, November 9th. The renewable energy company reported ($2.27) EPS for the quarter, topping analysts’ consensus estimates of ($2.29) by $0.02. The company earned $200.60 million during the quarter. SolarCity Corp. had a negative net margin of 3.63% and a negative return on equity of 62.02%. The business’s quarterly revenue was up 76.1% on a year-over-year basis. During the same period last year, the firm earned ($0.20) EPS. On average, equities research analysts anticipate that SolarCity Corp. will post ($9.31) EPS for the current fiscal year.
A number of equities analysts recently issued reports on SCTY shares. Raymond James Financial Inc. lowered shares of SolarCity Corp. from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, August 2nd. Barclays PLC reiterated an “underweight” rating on shares of SolarCity Corp. in a research note on Thursday, November 10th. Needham & Company LLC reiterated a “hold” rating on shares of SolarCity Corp. in a research note on Tuesday, September 13th. Axiom Securities reiterated a “sell” rating and set a $7.00 price target on shares of SolarCity Corp. in a research note on Friday, September 9th. Finally, Robert W. Baird downgraded shares of SolarCity Corp. from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $37.00 to $25.00 in a research note on Tuesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. SolarCity Corp. currently has an average rating of “Hold” and a consensus price target of $29.56.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc increased its position in shares of SolarCity Corp. by 4.0% in the second quarter. Legal & General Group Plc now owns 4,480 shares of the renewable energy company’s stock worth $107,000 after buying an additional 174 shares during the period. KBC Group NV acquired a new position in shares of SolarCity Corp. during the second quarter worth approximately $122,000. Cubist Systematic Strategies LLC increased its position in shares of SolarCity Corp. by 62.7% in the second quarter. Cubist Systematic Strategies LLC now owns 5,208 shares of the renewable energy company’s stock worth $125,000 after buying an additional 2,007 shares during the period. PNC Financial Services Group Inc. increased its position in shares of SolarCity Corp. by 51.5% in the third quarter. PNC Financial Services Group Inc. now owns 6,618 shares of the renewable energy company’s stock worth $129,000 after buying an additional 2,250 shares during the period. Finally, Advisor Group Inc. increased its position in shares of SolarCity Corp. by 14.8% in the third quarter. Advisor Group Inc. now owns 7,962 shares of the renewable energy company’s stock worth $156,000 after buying an additional 1,029 shares during the period. 39.24% of the stock is owned by institutional investors.
SolarCity Corp. Company Profile
SolarCity Corporation sells renewable energy. The Company is engaged in the design, manufacture, 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. The Company operates through solar energy products and services segment.
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