Tesla (NASDAQ:TSLA) Stock Price Down 4.7% on Insider Selling

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded down 4.7% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $234.00 and last traded at $236.39. 47,638,062 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 86,975,102 shares. The stock had previously closed at $248.09.

Specifically, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 price target on shares of Tesla in a report on Wednesday, January 29th. Jefferies Financial Group increased their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Bank of America cut their target price on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Barclays increased their price target on Tesla from $270.00 to $325.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 15th. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $325.81.

Tesla Trading Down 3.0 %

The company has a market capitalization of $774.15 billion, a P/E ratio of 117.98, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $354.52 and its 200 day moving average price is $318.49.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Hedge Funds Weigh In On Tesla

Several large investors have recently bought and sold shares of TSLA. True Wealth Design LLC boosted its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. boosted its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the last quarter. Peterson Financial Group Inc. bought a new position in shares of Tesla in the third quarter valued at approximately $35,000. GS Investments Inc. increased its position 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 valued at $36,000 after acquiring an additional 58 shares during the last quarter. Finally, Navigoe LLC bought a new stake in Tesla during the fourth quarter worth $37,000. 66.20% of the stock is currently owned by institutional investors.

About Tesla

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.