Tesla, Inc. (NASDAQ:TSLA) Director Sells $170,636,475.60 in Stock

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tesla Trading Down 2.6%

NASDAQ:TSLA traded down $9.34 on Friday, hitting $349.09. 122,996,137 shares of the stock were exchanged, compared to its average volume of 98,035,312. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company's 50-day moving average price is $285.70 and its 200 day moving average price is $333.80. 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 $1.12 trillion, a price-to-earnings ratio of 171.12, a P/E/G ratio of 5.86 and a beta of 2.43.

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

Wall Street Analysts Forecast Growth

TSLA has been the subject of several analyst reports. Raymond James cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Wall Street Zen cut shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. Glj Research reaffirmed a "sell" rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Morgan Stanley reissued a "buy" rating and issued a $430.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.97.

Hedge Funds Weigh In On Tesla

Large investors have recently added to or reduced their stakes in the company. Wealth Group Ltd. bought a new position in shares of Tesla during the fourth quarter worth approximately $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in Tesla during the fourth quarter worth about $1,361,000. Tallon Kerry Patrick bought a new stake in shares of Tesla during the fourth quarter worth $374,000. Eagle Capital Management LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $331,000. Finally, Brighton Jones LLC raised its stake in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

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.