Tesla, Inc. (NASDAQ:TSLA) Director Sells $15,138,915.00 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tesla Stock Performance

Shares of TSLA opened at $296.91 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.75. The company has a market cap of $953.10 billion, a PE ratio of 81.35, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The firm has a 50-day moving average of $237.23 and a 200-day moving average of $213.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TSLA shares. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Thursday, October 24th. Jefferies Financial Group lifted their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, October 21st. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research note on Wednesday, July 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $222.03.

Hedge Funds Weigh In On Tesla

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter worth approximately $29,000. Finally, Clean Yield Group lifted its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.