Insider Selling: Tesla, Inc. (NASDAQ:TSLA) Director Sells $27,590,250.00 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 75,000 shares of Tesla 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 transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tesla Stock Up 2.4 %

Tesla stock opened at $336.51 on Thursday. The firm has a market cap of $1.08 trillion, a price-to-earnings ratio of 164.96, a P/E/G ratio of 6.22 and a beta of 2.34. The firm has a fifty day moving average price of $407.68 and a two-hundred day moving average price of $306.23. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

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

Analysts Set New Price Targets

TSLA has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Tesla from $351.00 to $373.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Guggenheim restated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, January 29th. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group upped their target price on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $326.50.

Institutional Investors Weigh In On Tesla

A number of institutional investors have recently added to or reduced their stakes in TSLA. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. increased its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. CoreFirst Bank & Trust bought a new position in shares of Tesla in the fourth quarter valued at approximately $38,000. Delos Wealth Advisors LLC raised its stake in shares of Tesla by 300.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 100 shares of the electric vehicle producer’s stock worth $40,000 after acquiring an additional 75 shares during the last quarter. Finally, Cyrus J. Lawrence LLC acquired a new position in shares of Tesla during the fourth quarter worth approximately $44,000. 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.