Tesla (NASDAQ:TSLA) Director James Murdoch Sells 120,000 Shares

Key Points

• Tesla Director James Murdoch sold 120,000 shares at an average price of $350.29, totaling approximately $42 million, decreasing his position by 14.69%.
• Tesla's stock is currently trading at $345.98, which represents a 1.0% decline, with a twelve-month range of $205.97 to $488.54.
• Recent earnings revealed a missed consensus EPS of $0.40, down 11.8% year-over-year revenue compared to the previous year.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) Director James Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tesla Stock Down 1.0%

Shares of NASDAQ:TSLA traded down $3.62 during midday trading on Thursday, hitting $345.98. 67,693,950 shares of the company's stock traded hands, compared to its average volume of 76,979,280. Tesla, Inc. has a twelve month low of $205.97 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.12 trillion, a PE ratio of 199.99, a P/E/G ratio of 12.15 and a beta of 2.33. The firm's fifty day moving average price is $322.87 and its two-hundred day moving average price is $303.14.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Chapman Financial Group LLC acquired a new position in Tesla during the second quarter worth $26,000. Newton One Investments LLC raised its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Finally, Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter worth $27,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TSLA shares. Canaccord Genuity Group boosted their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. UBS Group set a $290.00 target price on shares of Tesla in a research report on Monday, June 30th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $303.31.

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.

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