Tesla, Inc. (NASDAQ:TSLA) Director Sells $39,792,803.40 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $30,095,100. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tesla Trading Up 1.9 %

Shares of TSLA stock opened at $357.93 on Thursday. The stock has a market cap of $1.15 trillion, a price-to-earnings ratio of 98.06, a price-to-earnings-growth ratio of 11.41 and a beta of 2.36. 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, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The firm’s 50 day moving average price is $280.65 and its two-hundred day moving average price is $235.96.

Tesla (NASDAQ:TSLA) last posted its earnings results 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLA. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research note on Monday, November 18th. Piper Sandler raised their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $243.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Boulder Wealth Advisors LLC acquired a new position in shares of Tesla during the third quarter worth $232,000. Oriental Harbor Investment Fund acquired a new position in shares of Tesla during the third quarter worth $14,700,000. Inspire Trust Co. N.A. lifted its position in shares of Tesla by 23.3% during the third quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock worth $2,145,000 after purchasing an additional 1,548 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its position in shares of Tesla by 1,089.8% during the third quarter. Beaird Harris Wealth Management LLC now owns 25,949 shares of the electric vehicle producer’s stock worth $6,789,000 after purchasing an additional 23,768 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Tesla by 8.2% in the third quarter. Franklin Resources Inc. now owns 3,958,174 shares of the electric vehicle producer’s stock worth $1,035,577,000 after buying an additional 300,951 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.