In a recent transaction, Paul H. Stebbins, a director at First Solar, Inc. (NASDAQ:FSLR), sold 4,000 shares of the company's common stock. The sale took place on May 23, 2024, and amounted to a total of $1,001,400. The shares were sold at a weighted average price of $250.35 each, with individual transactions occurring at prices ranging from $250.04 to $250.51.
The sale by Stebbins was executed through multiple trades and the reported weighted average sale price reflects the combined value of these transactions. Following the sale, Stebbins' direct holdings in First Solar decreased to 20,817 shares. It was noted that the shares were owned by the Stebbins Family Trust, indicating an indirect ownership.
This move by a high-ranking insider at First Solar provides investors with a glimpse into executive stock activity at the company. The details of the sale, including the number of shares sold at each separate price within the specified range, are available upon request to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission.
First Solar is a leading global provider of comprehensive photovoltaic solar systems which use its advanced module and system technology. The company's integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. Based in Tempe, Arizona, First Solar has developed, financed, engineered, constructed, and currently operates many of the world's largest grid-connected PV power plants.
Investors and market watchers often pay close attention to insider sales and purchases as they can provide valuable insights into a company's financial health and future prospects.
InvestingPro Insights
As investors digest the news of Paul H. Stebbins' stock sale, it's worth noting that First Solar, Inc. (NASDAQ:FSLR) showcases a robust financial position with a market capitalization of $26.74 billion. The company's performance metrics reflect a positive trend, with a substantial revenue growth of 27.28% over the last twelve months as of Q1 2024. This growth is even more pronounced on a quarterly basis, with a 44.83% increase in revenue in Q1 2024. Such figures suggest that First Solar is expanding its market presence and financial strength, aligning with analysts' expectations of sales growth in the current year.
InvestingPro Tips highlight that First Solar holds more cash than debt on its balance sheet, providing the company with financial flexibility and stability. Additionally, the company is trading near its 52-week high, with a price percentage of 98.35% of that peak value, indicating strong market confidence in its stock. With the stock's significant returns over various timeframes, including a 74.83% return over the last three months, investors may find First Solar's growth trajectory compelling.
For those seeking to delve deeper into First Solar's financials and future prospects, there are more InvestingPro Tips available at https://www.investing.com/pro/FSLR. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of data and insights that can inform investment decisions. With 16 additional InvestingPro Tips listed for First Solar, there is ample expert analysis to explore.
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