12:27 PM EDT, 09/15/2025 (MT Newswires) -- Tesla (TSLA) shares advanced on Monday after a regulatory filing showed that Chief Executive Elon Musk bought roughly $1 billion worth of the electric-vehicle manufacturer's shares in several transactions.

The purchases made Friday through a trust totaled close to 2.57 million shares at between $371.9 and $396.359 per share, a regulatory filing showed on Monday. The transactions are worth about $1 billion in total.

The stock was 6.5% higher intraday, and is now up about 4.4% so far in 2025.

Friday's transactions were Musk's first Tesla stock purchase in the open market since February 2020, Bloomberg News reported Monday.

The share acquisitions come after Tesla's board earlier in the month proposed a new compensation package potentially worth around $1 trillion for Musk. To receive the full package, Musk would have to meet several targets, including driving Tesla's market capitalization to at least $8.5 trillion by 2035.

Tesla's market capitalization could reach $2 trillion by the middle of 2026, according to a Sunday client note from Wedbush Securities, saying the company is positioned well to lead the autonomous driving sector. As of midday Monday, Tesla had a market value of $1.32 trillion.

The brokerage estimates Tesla's artificial intelligence and autonomous opportunity is worth at least $1 trillion for the company.

"We believe Tesla and Musk are heading into a very important chapter of their growth story as the AI revolution takes hold and the Robotaxi opportunity is now a reality on the doorstep," Wedbush analysts, including Daniel Ives, wrote in the note.

Wedbush said the new pay package is expected to keep Musk at the helm of the company until at least 2030.

"Musk remains the most important asset to Tesla and the board made the smart and right move," the note said.

Price: 421.14, Change: +25.20, Percent Change: +6.36