Tesla, Inc. (NASDAQ:TSLA) Director Sells $15,138,915.00 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tesla Trading Up 2.9 %

Shares of Tesla stock opened at $296.91 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.75. The firm has a market capitalization of $953.10 billion, a PE ratio of 81.35, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company’s fifty day moving average price is $237.23 and its two-hundred day moving average price is $213.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bank & Trust Co bought a new position in Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the 3rd quarter worth about $29,000. Finally, Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TSLA shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Finally, Bank of America increased their price objective on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $222.03.

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.