Tesla, Inc. (NASDAQ:TSLA) Director Sells $32,732,635.32 in Stock

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Tesla Stock Down 2.6%

NASDAQ:TSLA traded down $9.34 during trading hours on Friday, hitting $349.09. 122,996,137 shares of the stock traded hands, compared to its average volume of 98,035,312. The firm has a 50 day moving average price of $285.70 and a 200 day moving average price of $333.80. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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). 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 analysts' expectations of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Institutional Investors Weigh In On Tesla

A number of large investors have recently added to or reduced their stakes in TSLA. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the 4th quarter valued at $56,600,000. Stephens Consulting LLC lifted its stake in shares of Tesla by 126.7% in the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after buying an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its position in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. bought a new position in Tesla during the fourth quarter valued at about $8,158,000. Finally, Vontobel Holding Ltd. raised its holdings in Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock valued at $130,158,000 after acquiring an additional 60,342 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. Raymond James lowered Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Guggenheim restated a "sell" rating and set a $170.00 price objective on shares of Tesla in a report on Thursday, April 24th. Robert W. Baird dropped their target price on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group decreased their price target on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $293.97.

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.