Tesla board member, Joe Gebbia, purchases more than a million dollars' worth of TSLA stocks
Tesla is set to debut its first paid autonomous ride service using Model Y vehicles in Austin, Texas, in June. The announcement, made during the company's Q1 2025 earnings call by CEO Elon Musk, marks a significant step forward in Tesla's mission to revolutionize the transportation industry.
The initial operations of the service will focus on Austin, with plans to expand to additional U.S. cities by the end of the year. Notably, the service will offer fully autonomous rides, not requiring human drivers. However, the Cybercab, Tesla's highly anticipated fully electric, fully autonomous vehicle, will not be involved in the initial rollout.
In a notable exception to the trend of insider selling, Tesla Board member Joe Gebbia, co-founder of Airbnb, purchased Tesla shares for the first time in over five years. Gebbia's transaction, worth approximately $1 million, involved 4,000 shares, with an average price of $256.31 per share. Prior to this purchase, Gebbia held 111 shares of Tesla.
Gebbia's purchase, the only insider buy during that period, has been interpreted as a positive signal from an insider but has not been explicitly reported as influencing anticipation for Tesla's robotaxi launch in Austin, Texas.
Other Tesla insiders, including CEO Elon Musk's brother, Kimbal Musk, and Tesla CFO Vaibhav Taneja, have sold substantial amounts of stock in recent months. However, the initial operations of the autonomous ride service are expected to proceed as planned.
Tesla Chairwoman Robyn Denholm also sold more than $130 million worth of shares over the past several months, a trend that has been observed among other Tesla executives. Despite this, the company remains optimistic about the future of its autonomous ride service and its potential to reshape the transportation landscape.
The referral link for buying a Tesla is available if our content helped in the decision, offering three months of Full Self-Driving (FSD). For more information about Tesla's autonomous ride service and other updates, stay tuned to our coverage.
[1] Tesla Insider Joe Gebbia Buys Shares for First Time in Over Five Years
[2] Tesla's Robyn Denholm Sells Over $130 Million in Shares
[3] Tesla's Autonomous Ride Service to Launch in Austin, Texas
[4] Tesla's Q1 2025 Earnings Call Transcript
[5] Tesla's Insider Trading Activity in Q1 2025
- The technology sector is not immune to insider trading activities, as evidenced by Tesla Board member Joe Gebbia's recent purchase of Tesla shares for the first time in over five years, worth approximately $1 million.
- Despite some Tesla executives, including Tesla Chairwoman Robyn Denholm, selling substantial amounts of shares, the company remains focused on expanding its business ventures, with its autonomous ride service set to launch in Austin, Texas, propelled by advancements in technology.
