Kimbal Musk Sells 60,500 Shares of Tesla, Inc. (NASDAQ:TSLA) Stock

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tesla Stock Up 3.5 %

Shares of TSLA traded up $8.60 during trading hours on Tuesday, reaching $251.44. 66,869,483 shares of the stock traded hands, compared to its average volume of 93,929,164. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $235.57 and a 200 day simple moving average of $212.54. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54. The company has a market cap of $807.14 billion, a price-to-earnings ratio of 68.89, a PEG ratio of 8.21 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for 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 revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. 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 research note on Monday, October 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research report on Wednesday, July 24th. Finally, Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $219.45.

Institutional Trading of Tesla

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank & Trust Co purchased a new position in Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter valued at approximately $29,000. Finally, Clean Yield Group grew its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Institutional investors 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.