Tesla (NASDAQ:TSLA) Shares Down 0.2% on Insider Selling

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded down 0.2% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $350.51 and last traded at $360.74. 31,313,022 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 72,824,508 shares. The stock had previously closed at $361.62.

Specifically, Director Kimbal Musk sold 75,000 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $41,745,581.15. This represents 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 stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $384.04, for a total value of $43,162,255.60. Following the sale, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Mizuho reissued an “outperform” rating and issued a $515.00 price target on shares of Tesla in a report on Thursday, January 30th. Wedbush upped their target price on Tesla from $515.00 to $550.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price objective on shares of Tesla in a research note on Wednesday, January 29th. Finally, New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 target price for the company in a report on Monday, January 6th. Nine analysts have rated the stock with a sell rating, twelve have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $321.71.

Tesla Trading Down 3.0 %

The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 171.93, a PEG ratio of 6.22 and a beta of 2.34. The business’s fifty day simple moving average is $408.27 and its two-hundred day simple moving average is $304.55. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released 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, equities analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently bought and sold shares of the company. Generali Asset Management SPA SGR purchased a new stake in Tesla during the fourth quarter worth about $84,881,000. Evoke Wealth LLC grew its stake in Tesla by 14.3% in the 4th quarter. Evoke Wealth LLC now owns 15,348 shares of the electric vehicle producer’s stock valued at $6,198,000 after acquiring an additional 1,915 shares during the last quarter. Horizon Investments LLC raised its position in Tesla by 24.1% during the fourth quarter. Horizon Investments LLC now owns 65,409 shares of the electric vehicle producer’s stock worth $26,415,000 after acquiring an additional 12,710 shares during the last quarter. Carlson Capital Management grew its position in shares of Tesla by 1.6% in the fourth quarter. Carlson Capital Management now owns 8,526 shares of the electric vehicle producer’s stock valued at $3,443,000 after purchasing an additional 132 shares during the last quarter. Finally, Custos Family Office LLC raised its position in shares of Tesla by 4.1% during the 4th quarter. Custos Family Office LLC now owns 2,987 shares of the electric vehicle producer’s stock worth $1,206,000 after purchasing an additional 117 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.