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

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TSLA shares. Wells Fargo & Company increased their target price on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their price target on Tesla from $298.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their target price on shares of Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and set a $440.00 price target on shares of Tesla in a research note on Thursday, January 30th. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $321.71.

Tesla Trading Down 4.2 %

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business’s 50 day simple moving average is $408.14 and its 200 day simple moving average is $305.46. The stock has a market cap of $1.08 trillion, a P/E ratio of 165.20, a PEG ratio of 6.22 and a beta of 2.34.

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

Institutional Investors Weigh In On Tesla

Large investors have recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new position in Tesla in the third quarter worth $35,000. GS Investments Inc. increased its stake in shares of Tesla by 193.3% in the fourth 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 in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Tesla in the fourth quarter valued at about $46,000. Finally, Parkworth Wealth Management Inc. acquired a new position in Tesla during the 4th quarter worth about $47,000. 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.