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Here’s How Tesla Motors Inc CEO Elon Musk Balance His Stock Portfolio

Elon Musk Tesla Motors Inc (TSLA) and SolarCity Corp (SCTY)

Tesla Motors Inc CEO Elon Musk has been busy these days in buying more shares of his other firm SolarCity, amid a selloff. Despite the recent buying, from his shareholding pattern, it can be said that Musk favors Tesla more.

Musk favors Tesla more

Musk is the chairman of SolarCity and the chairman and chief executive of Tesla. SolarCity is headed by Musk’s cousin Lyndon Reeve. Musk is also the biggest shareholder in both the firms. Apart from these two, Musk is also the founder and CEO of SpaceX, which is private firm valued at around $12bn. Forbes Magazine estimates Musk’s wealth at $12bn.

Elon Musk Tesla Motors Inc (TSLA)

On Monday, Musk acquired 200,000 SolarCity shares. Last week, he bought 84,000 and 223,000 shares, according to filings and FactSet. Musk’s portfolio is made of 91.2% Tesla shares and 8.8% SolarCity shares, says FactSet. In percentage terms, SolarCity shares are at their lowest in Musk’s portfolio.

Last year, it was 85% Tesla and 15% SolarCity, tracks FactSet. And in March 2013, it was nearly 28% SolarCity. In SolarCity, Musk holds 21 million shares or 21.6% stake worth $588m while in Tesla, the stake is 21.9% worth $6.08bn.

Both the stocks have been down in recent months, partly due to the low oil prices. In the last three months, SolarCity shares have lost 48% while Tesla Motors Inc shares are down almost 16% during the same period. In the last three months, S&P 500 is down only 1.5%.

Average rating on ‘hold’

Many analysts have come up with their verdict on Tesla in recent weeks. In a note on Tuesday, Vetr analysts lowered the rating on car firm from “strong-buy” to a “buy” rating with a price target of $235.23. Last week, Stifel Nicolaus reissued a “buy” rating on the stock with a price target of $400.

In a report on November 12, Morgan Stanley reaffirmed an “overweight” rating on the stock with a price target of $450. Pacific Crest, in a report on November 9th, reiterated an “equal weight” rating. Lastly, RBC Capital restated a “sector perform” rating on the stock with a price target of $280, in a note on November 5th.

Presently, Tesla Motors Inc has an average rating of hold and an average price target of $286.33. On Wednesday, Tesla shares closed 3.30% at $221.07. Year to date, the stock is down almost 1% while in the last one-month, it is down almost 3%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.