Tesla (NASDAQ:TSLA) Shares Down 5.4% Following Insider Selling

Tesla, Inc. (NASDAQ:TSLAGet Free Report) shares were down 5.4% on Thursday after an insider sold shares in the company. The company traded as low as $359.03 and last traded at $360.59. Approximately 82,123,696 shares traded hands during mid-day trading, an increase of 33% from the average daily volume of 61,858,281 shares. The stock had previously closed at $381.26.

Specifically, Director Kathleen Wilson-Thompson sold 25,809 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $359.33, for a total value of $9,273,947.97. Following the sale, the director owned 33,860 shares of the company’s stock, valued at approximately $12,166,913.80. This trade represents a 43.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BNP Paribas Exane decreased their target price on Tesla from $313.00 to $280.00 and set an “underperform” rating on the stock in a research report on Monday, March 2nd. President Capital reduced their price target on shares of Tesla from $517.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Tigress Financial began coverage on shares of Tesla in a report on Thursday, February 12th. They set a “buy” rating and a $550.00 price target on the stock. Zacks Research downgraded shares of Tesla from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research note on Tuesday, January 27th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $403.98.

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Tesla Trading Down 5.4%

The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 333.88, a P/E/G ratio of 11.31 and a beta of 1.91. The firm’s 50-day moving average is $402.83 and its 200 day moving average is $427.85.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The firm had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 EPS. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Relyea Zuckerberg Hanson LLC raised its position in shares of Tesla by 0.4% during the third quarter. Relyea Zuckerberg Hanson LLC now owns 6,558 shares of the electric vehicle producer’s stock worth $2,916,000 after acquiring an additional 23 shares during the last quarter. Equita Financial Network Inc. increased its position in Tesla by 2.8% during the 3rd quarter. Equita Financial Network Inc. now owns 855 shares of the electric vehicle producer’s stock valued at $380,000 after purchasing an additional 23 shares during the period. VanderPol Investments L.L.C. raised its holdings in Tesla by 2.2% during the 3rd quarter. VanderPol Investments L.L.C. now owns 1,070 shares of the electric vehicle producer’s stock worth $464,000 after purchasing an additional 23 shares during the last quarter. Resonant Capital Advisors LLC raised its holdings in Tesla by 0.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 8,577 shares of the electric vehicle producer’s stock worth $3,814,000 after purchasing an additional 23 shares during the last quarter. Finally, Cloud Capital Management LLC lifted its position in shares of Tesla by 1.1% in the 3rd quarter. Cloud Capital Management LLC now owns 2,076 shares of the electric vehicle producer’s stock worth $923,000 after purchasing an additional 23 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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