Insider Selling: Tesla, Inc. (NASDAQ:TSLA) Director Sells 75,000 Shares of Stock

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 75,000 shares of Tesla stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tesla Stock Down 3.0 %

Shares of Tesla stock opened at $350.73 on Tuesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The company has a market cap of $1.13 trillion, a P/E ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. 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 fifty day moving average of $408.27 and a two-hundred day moving average of $304.55.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, analysts forecast that Tesla, Inc. will post 2.54 earnings per share for the current year.

Institutional Trading of Tesla

Institutional investors have recently modified their holdings of the business. Generali Asset Management SPA SGR acquired a new stake in Tesla in the fourth quarter valued at $84,881,000. Evoke Wealth LLC increased its holdings in shares of Tesla by 14.3% in the 4th quarter. Evoke Wealth LLC now owns 15,348 shares of the electric vehicle producer’s stock valued at $6,198,000 after purchasing an additional 1,915 shares in the last quarter. Horizon Investments LLC lifted its stake in shares of Tesla by 24.1% in the fourth quarter. Horizon Investments LLC now owns 65,409 shares of the electric vehicle producer’s stock valued at $26,415,000 after purchasing an additional 12,710 shares during the period. Carlson Capital Management boosted its holdings in Tesla by 1.6% during the fourth quarter. Carlson Capital Management now owns 8,526 shares of the electric vehicle producer’s stock worth $3,443,000 after buying an additional 132 shares in the last quarter. Finally, Custos Family Office LLC grew its position in Tesla by 4.1% during the fourth quarter. Custos Family Office LLC now owns 2,987 shares of the electric vehicle producer’s stock worth $1,206,000 after buying an additional 117 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSLA. Barclays boosted their price objective on Tesla from $270.00 to $325.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 15th. Wells Fargo & Company increased their price objective on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Robert W. Baird lowered their target price on shares of Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, January 30th. Finally, Mizuho reaffirmed an “outperform” rating and set a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $321.71.

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.