General Motors Co (NYSE:GM) CEO Mary Barra engaged in significant trading of company shares, according to a recent SEC filing. On May 28, Barra sold shares worth approximately $27.2 million and also purchased shares valued at $11.2 million.
The sold shares were transacted at prices ranging from $43.24 to $43.70, reflecting a healthy trading range for the automotive giant's stock. On the buying side, Barra acquired shares at prices between $31.32 and $34.34. These transactions demonstrate a notable shift in the CEO's stake in the company.
The filing indicated that Barra sold a total of 326,306 shares at an average price of $43.24 and another batch of 300,010 shares at an average price of $43.70. On the same day, she also acquired 326,306 shares at $34.34 each and a smaller quantity of 10 shares at $31.32 each. The buying transactions are part of the executive's stock compensation plan, which typically allows executives to purchase shares at a preset price.
Investors often keep a close eye on insider transactions as they can provide insights into the company's performance and management's confidence in the business. In the case of General Motors, Barra's recent moves have been substantial and could be of interest to shareholders and potential investors.
Barra has been at the helm of General Motors as Chair and CEO, leading the company through a period of significant transformation, including a push towards electric vehicles and new technology. Her transactions are part of the normal course of stock ownership for corporate executives, which can include exercising options and selling shares.
For those tracking the company's stock, General Motors trades under the ticker GM on the New York Stock Exchange. As the automotive industry continues to evolve, GM remains a closely watched company due to its size and impact on the market.
InvestingPro Insights
General Motors (NYSE:GM) has been navigating the dynamic automotive landscape with strategic moves both in the market and within its corporate structure. The company's stock has experienced a significant price uptick over the last six months, with a 35.34% price total return, underscoring the positive sentiment among investors. This aligns with the actions of CEO Mary Barra, whose recent share transactions indicate a strong belief in the company's direction and performance.
InvestingPro Data highlights GM's robust financial metrics, with a market capitalization of $49.49 billion and an attractive P/E ratio standing at 5.33. When adjusted for the last twelve months as of Q1 2024, the P/E ratio is even lower at 4.63, suggesting that the stock could be undervalued relative to its earnings. Moreover, the company's PEG ratio for the same period is 0.18, which may point to the stock being a potentially good value based on earnings growth expectations.
InvestingPro Tips reveal that GM's management has been aggressively buying back shares, which can often be a signal of confidence in the company's future prospects. Additionally, 13 analysts have revised their earnings upwards for the upcoming period, further bolstering investor optimism regarding GM's financial outlook.
For those considering an investment in General Motors, these insights could be particularly valuable. To explore more about GM's stock and to gain access to additional InvestingPro Tips, visit https://www.investing.com/pro/GM. Remember, with the promo code PRONEWS24, you can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more expert insights and data to guide your investment decisions. There are a total of 9 additional InvestingPro Tips available for General Motors, providing a comprehensive view of the company's financial health and market position.
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