Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk Sells 75,000 Shares

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 75,000 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Tesla Price Performance

NASDAQ:TSLA opened at $350.73 on Tuesday. The company has a market capitalization of $1.13 trillion, a P/E ratio of 171.93, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The stock’s fifty day moving average is $408.27 and its two-hundred day moving average is $304.55.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities analysts expect that Tesla, Inc. will post 2.54 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on TSLA. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Morgan Stanley raised their price objective on Tesla from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Piper Sandler upped their target price on Tesla from $315.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price target on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, January 30th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $321.71.

Hedge Funds Weigh In On Tesla

Several large investors have recently made changes to their positions in the stock. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth $29,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Tesla during the 4th quarter worth about $46,000. Parkworth Wealth Management Inc. purchased a new position in Tesla during the 4th quarter valued at about $47,000. PayPay Securities Corp grew its position in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Tesla during the third quarter worth about $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

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.