Tesla (NASDAQ:TSLA) Trading Down 3.3% on Insider Selling
Tesla, Inc. (NASDAQ:TSLA – Get Free Report) fell 3.3% on Thursday after an insider sold shares in the company. The company traded as low as $363.18 and last traded at $365.71. 34,514,329 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 72,884,664 shares. The stock had previously closed at $378.17.
Specifically, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $32,643,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Analysts Set New Price Targets
A number of brokerages have issued reports on TSLA. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Friday, January 3rd. Wedbush increased their price target on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group increased their price target on Tesla from $226.00 to $259.00 and gave the stock a “sell” rating in a report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price target on shares of Tesla in a report on Wednesday, January 29th. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $322.29.
View Our Latest Research Report on TSLA
Tesla Stock Down 1.0 %
The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a market cap of $1.20 trillion, a price-to-earnings ratio of 183.49, a price-to-earnings-growth ratio of 6.79 and a beta of 2.34. The firm has a 50-day moving average price of $407.11 and a two-hundred day moving average price of $302.26.
Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. On average, sell-side analysts forecast that Tesla, Inc. will post 2.82 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Blue Barn Wealth LLC increased its position in Tesla by 2.0% during the fourth quarter. Blue Barn Wealth LLC now owns 1,892 shares of the electric vehicle producer’s stock worth $764,000 after buying an additional 37 shares during the period. Opulen Financial Group LLC acquired a new position in Tesla during the fourth quarter worth approximately $394,000. Ethos Financial Group LLC increased its holdings in shares of Tesla by 331.3% in the fourth quarter. Ethos Financial Group LLC now owns 4,986 shares of the electric vehicle producer’s stock valued at $2,014,000 after purchasing an additional 3,830 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Tesla by 5.3% in the fourth quarter. Lindbrook Capital LLC now owns 15,839 shares of the electric vehicle producer’s stock valued at $6,396,000 after purchasing an additional 793 shares during the period. Finally, Carmel Capital Partners LLC increased its holdings in shares of Tesla by 3.1% in the fourth quarter. Carmel Capital Partners LLC now owns 11,075 shares of the electric vehicle producer’s stock valued at $4,473,000 after purchasing an additional 338 shares during the period. Institutional investors and hedge funds 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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