Tesla (NASDAQ:TSLA) Stock Price Down 1.9% After Insider Selling

Key Points

• Tesla's stock price dropped 1.9% to $339.41 following a significant insider selling by Director James R. Murdoch, who sold 120,000 shares at an average price of $350.29.
• The company's recent earnings report showed an EPS of $0.40, missing estimates by $0.03, with revenue down 11.8% compared to the same quarter last year.
• Analyst ratings for Tesla are mixed, with a consensus rating of "Hold" and an average target price of $303.31.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) dropped 1.9% during mid-day trading on Friday following insider selling activity. The stock traded as low as $337.48 and last traded at $339.41. Approximately 25,296,197 shares traded hands during trading, a decline of 76% from the average daily volume of 103,650,930 shares. The stock had previously closed at $345.98.

Specifically, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several research firms recently commented on TSLA. Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. China Renaissance reissued a "hold" rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Down 2.0%

The firm has a market cap of $1.09 trillion, a PE ratio of 195.89, a PEG ratio of 12.15 and a beta of 2.33. The business's 50 day moving average price is $323.35 and its 200 day moving average price is $303.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cherry Tree Wealth Management LLC raised its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Chapman Financial Group LLC acquired a new stake in Tesla in the 2nd quarter valued at about $26,000. Newton One Investments LLC lifted its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Finally, Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter valued at about $27,000. Institutional investors and hedge funds 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.

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