Tesla (NASDAQ:TSLA) SVP Xiaotong Zhu Sells 20,000 Shares

Key Points

• Tesla SVP Xiaotong Zhu sold 20,000 shares at an average price of $363.75, amounting to a total value of $7.27 million, reducing their ownership by 29.59%.
• Tesla's stock experienced a 7.4% increase in value, reaching $395.94, with a market cap of $1.28 trillion and a PE ratio of 228.87.
• The electric vehicle manufacturer reported earnings per share of $0.40 for the last quarter, falling short of analysts' expectations of $0.43, and experienced an 11.8% decline in revenue compared to the previous year.

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tesla Trading Up 7.4%

Shares of TSLA traded up $27.13 during midday trading on Friday, reaching $395.94. The company had a trading volume of 167,593,971 shares, compared to its average volume of 71,704,616. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market cap of $1.28 trillion, a PE ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. The firm has a 50 day simple moving average of $327.25 and a 200-day simple moving average of $302.84. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the business earned $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Canaccord Genuity Group raised their price objective on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Morgan Stanley reissued an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Finally, Piper Sandler restated an "overweight" rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $303.00.

Institutional Trading of Tesla

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer's stock valued at $79,856,764,000 after buying an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer's stock valued at $20,480,477,000 after buying an additional 1,269,304 shares in the last quarter. Norges Bank purchased a new stake in shares of Tesla in the second quarter valued at approximately $11,839,824,000. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Tesla by 0.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after buying an additional 158,697 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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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