Tesla (NASDAQ:TSLA) Trading Down 3.8% on Insider Selling

Tesla, Inc. (NASDAQ:TSLA) shares dropped 3.8% on Thursday following insider selling activity. The company traded as low as $316.28 and last traded at $317.80. Approximately 35,299,711 shares were traded 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 stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’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 sale, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $300.37, for a total transaction of $2,402,960.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $31,548,461.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada raised their target price on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $228.24.

Tesla Trading Down 3.1 %

The firm has a market capitalization of $1.03 trillion, a PE ratio of 87.07, a PEG ratio of 10.67 and a beta of 2.29. The business has a fifty day moving average price of $248.48 and a two-hundred day moving average price of $218.94. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Institutional Trading of Tesla

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