Tesla (NASDAQ:TSLA) Director Sells $25,360,800.00 in Stock

Key Points

• Tesla Director James Murdoch sold 60,000 shares for approximately $25.36 million, decreasing his ownership by 8.61% to 637,031 shares.
• Following the sale, Tesla stock rose 1.0% to $425.86, with significant trading volume exceeding its average.
• Recent quarterly earnings data showed Tesla missed EPS estimates by $0.03, reporting $0.40 compared to the consensus of $0.43.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) Director James Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Tesla Stock Up 1.0%

TSLA stock traded up $4.24 during trading on Wednesday, hitting $425.86. 104,997,033 shares of the company's stock were exchanged, compared to its average volume of 83,156,296. The business has a 50-day moving average price of $333.69 and a two-hundred day moving average price of $305.35. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 246.16, a PEG ratio of 14.71 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Wedbush reissued an "outperform" rating and set a $500.00 price objective on shares of Tesla in a report on Monday. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Stifel Nicolaus set a $440.00 price target on Tesla in a report on Friday, September 5th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $307.46.

Hedge Funds Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in the business. Means Investment CO. Inc. increased its holdings in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Siren L.L.C. acquired a new stake in Tesla during the first quarter worth approximately $2,332,000. Zuckerman Investment Group LLC increased its stake in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after buying an additional 826 shares during the period. Finally, Keystone Global Partners LLC purchased a new stake in shares of Tesla during the 1st quarter worth $594,000. Institutional investors own 66.20% of the company's stock.

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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