Tesla (NASDAQ:TSLA) Shares Down 3.7% Following Insider Selling

Shares of Tesla, Inc. (NASDAQ:TSLA) traded down 3.7% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $339.19 and last traded at $337.68. 34,553,744 shares changed hands during trading, a decline of 53% from the average session volume of 73,030,281 shares. The stock had previously closed at $350.73.

Specifically, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total value of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $383.11, for a total value of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $384.04, for a total value of $43,162,255.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $32,643,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TSLA. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Wednesday. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Evercore ISI upped their price target on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Finally, Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $326.50.

Tesla Stock Up 2.4 %

The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $1.08 trillion, a P/E ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. The company has a 50 day simple moving average of $407.68 and a two-hundred day simple moving average of $306.23.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities analysts predict that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter valued at $29,000. Horrell Capital Management Inc. raised its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the period. Peterson Financial Group Inc. purchased a new stake in Tesla during the 3rd quarter valued at $35,000. GS Investments Inc. raised its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter valued at $38,000. 66.20% of the stock is currently owned by institutional investors.

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.