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 that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Tesla Stock Up 3.5 %

Shares of TSLA stock traded up $8.60 during mid-day trading on Tuesday, hitting $251.44. 66,869,483 shares of the stock traded hands, compared to its average volume of 93,929,164. The stock has a market cap of $807.14 billion, a P/E ratio of 68.89, a P/E/G ratio of 8.21 and a beta of 2.29. The stock’s fifty day moving average is $235.57 and its two-hundred day moving average is $212.54. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. 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 released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Equities analysts predict that Tesla, Inc. will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Citigroup lowered their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Phillip Securities upgraded shares of Tesla to a “moderate sell” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Finally, Jefferies Financial Group boosted their price objective on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $219.45.

Hedge Funds Weigh In On Tesla

Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the period. Gladstone Institutional Advisory LLC grew its stake in Tesla by 6.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock valued at $11,349,000 after acquiring an additional 2,664 shares during the period. Morse Asset Management Inc grew its stake in Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after acquiring an additional 3,462 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Tesla by 34.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after purchasing an additional 1,059 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares in the last quarter. 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.