Insider Selling: Tesla, Inc. (NASDAQ:TSLA) Director Sells $35,339,911.60 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Tesla Stock Down 0.5 %

Shares of NASDAQ:TSLA opened at $340.17 on Friday. The firm has a market cap of $1.09 trillion, a P/E ratio of 93.20, a P/E/G ratio of 11.24 and a beta of 2.29. The business has a fifty day simple moving average of $261.63 and a 200 day simple moving average of $224.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Barclays increased their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $230.18.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently modified their holdings of TSLA. China Universal Asset Management Co. Ltd. grew its holdings in Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares during the period. Bessemer Group Inc. grew its stake in shares of Tesla by 113.9% in the 1st quarter. Bessemer Group Inc. now owns 65,437 shares of the electric vehicle producer’s stock valued at $11,503,000 after buying an additional 34,850 shares during the period. Leelyn Smith LLC increased its position in Tesla by 107.2% in the 1st quarter. Leelyn Smith LLC now owns 10,831 shares of the electric vehicle producer’s stock valued at $1,904,000 after buying an additional 5,603 shares in the last quarter. Crewe Advisors LLC bought a new position in Tesla in the first quarter worth approximately $9,703,000. Finally, Mattern Capital Management LLC grew its stake in Tesla by 33.6% in the first quarter. Mattern Capital Management LLC now owns 5,195 shares of the electric vehicle producer’s stock valued at $913,000 after acquiring an additional 1,307 shares during the period. 66.20% of the stock is currently 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.