Tesla (NASDAQ:TSLA) Shares Down 1.2% on Insider Selling

Tesla, Inc. (NASDAQ:TSLA)’s share price dropped 1.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $323.20 and last traded at $324.53. Approximately 61,713,865 shares were traded during trading, a decline of 35% from the average daily volume of 95,501,219 shares. The stock had previously closed at $328.49.

Specifically, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Friday, November 8th. The stock was sold at an average price of $300.37, for a total value of $2,402,960.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $31,548,461.84. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TSLA shares. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Royal Bank of Canada lifted their price target on shares of Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 24th. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Finally, JPMorgan Chase & Co. increased their price target on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $228.24.

Tesla Stock Performance

The business’s fifty day moving average is $248.48 and its two-hundred day moving average is $218.94. The stock has a market capitalization of $998.91 billion, a PE ratio of 85.25, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.53 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in TSLA. Connable Office Inc. boosted its holdings in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares during the period. Holistic Financial Partners lifted its position in shares of Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares during the last quarter. Integris Wealth Management LLC boosted its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Finally, Altman Advisors Inc. lifted its holdings in shares of Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares during the period. 66.20% of the stock is owned by institutional investors.

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.