Tesla, Inc. (NASDAQ:TSLA) Director Sells $30,809,717.40 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now directly owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tesla Price Performance

Shares of TSLA opened at $298.05 on Friday. The firm has a market capitalization of $960.01 billion, a PE ratio of 146.10, a P/E/G ratio of 5.86 and a beta of 2.43. The stock’s 50 day moving average is $258.65 and its two-hundred day moving average is $327.43. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on TSLA. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and upped their price target for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Benchmark reiterated a “buy” rating and issued a $350.00 price target on shares of Tesla in a research note on Wednesday, April 23rd. Mizuho dropped their price objective on shares of Tesla from $375.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Glj Research reaffirmed a “sell” rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, Argus set a $410.00 target price on Tesla in a report on Thursday, April 24th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $287.46.

Institutional Trading of Tesla

Institutional investors have recently added to or reduced their stakes in the stock. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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.