Tesla (NASDAQ:TSLA) Stock Price Down 3.8% Following Insider Selling

Tesla, Inc. (NASDAQ:TSLA) shares dropped 3.8% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $316.28 and last traded at $317.80. Approximately 35,299,711 shares changed hands during trading, a decline of 63% from the average daily volume of 95,557,852 shares. The stock had previously closed at $330.24.

Specifically, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $31,548,461.84. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. William Blair initiated coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Citigroup cut their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

The stock’s 50-day moving average is $250.10 and its 200 day moving average is $219.58. The company has a market cap of $1.03 trillion, a PE ratio of 87.49, a PEG ratio of 10.73 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.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Tesla

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC grew its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Clean Energy Transition LLP raised its stake in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC raised its stake in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP raised its stake in Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock worth $1,921,548,000 after purchasing an additional 2,511,488 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.