Insider Selling: Tesla, Inc. (NASDAQ:TSLA) Director Sells 112,395 Shares of Stock

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tesla Stock Up 3.1 %

TSLA traded up $8.60 during mid-day trading on Thursday, reaching $284.82. 97,225,331 shares of the stock were exchanged, compared to its average volume of 95,882,564. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $917.39 billion, a PE ratio of 139.62, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a 50 day moving average price of $258.13 and a two-hundred day moving average price of $325.63.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm posted $0.45 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently bought and sold shares of TSLA. Principal Financial Group Inc. grew its stake in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. Innova Wealth Partners bought a new position in shares of Tesla in the 4th quarter worth about $415,000. Park National Corp OH boosted its stake in Tesla by 31.1% during the fourth quarter. Park National Corp OH now owns 1,973 shares of the electric vehicle producer's stock worth $797,000 after acquiring an additional 468 shares in the last quarter. Oriental Harbor Investment Fund increased its stake in shares of Tesla by 116.3% during the fourth quarter. Oriental Harbor Investment Fund now owns 121,521 shares of the electric vehicle producer's stock valued at $49,075,000 after purchasing an additional 65,335 shares in the last quarter. Finally, Worth Asset Management LLC boosted its position in shares of Tesla by 383.1% in the 4th quarter. Worth Asset Management LLC now owns 8,314 shares of the electric vehicle producer's stock worth $3,358,000 after purchasing an additional 6,593 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. Raymond James lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. HSBC lowered their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Glj Research reaffirmed a "sell" rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $287.46.

About Tesla

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.

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