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 business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Tesla Price Performance

NASDAQ TSLA traded up $7.26 on Tuesday, reaching $346.00. The company’s stock had a trading volume of 88,565,972 shares, compared to its average volume of 96,129,742. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.11 trillion, a PE ratio of 94.79, a PEG ratio of 10.42 and a beta of 2.29. The firm’s 50 day moving average is $254.75 and its two-hundred day moving average is $222.13.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Institutional Trading of Tesla

Hedge funds have recently made changes to their positions in the stock. Bank & Trust Co acquired a new position in Tesla in the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the third quarter worth approximately $29,000. Finally, Clean Yield Group grew its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $230.18.

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.