Tesla (NASDAQ:TSLA) Director Sells $25,606,501.20 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Tesla Price Performance

NASDAQ:TSLA opened at $458.96 on Friday. The company has a 50 day moving average price of $435.52 and a 200-day moving average price of $376.29. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 305.97, a price-to-earnings-growth ratio of 15.50 and a beta of 1.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on TSLA. JPMorgan Chase & Co. upped their price target on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. New Street Research increased their target price on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. China Renaissance boosted their price target on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $399.33.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Tesla during the second quarter worth $11,839,824,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares during the period. Vanguard Group Inc. boosted its position in shares of Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the last quarter. Amundi increased its position in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in Tesla by 132.2% during the third quarter. Holocene Advisors LP now owns 6,157,000 shares of the electric vehicle producer’s stock worth $2,738,141,000 after purchasing an additional 3,505,000 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.