Tesla (NASDAQ:TSLA) Trading Down 3.7% After Insider Selling

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

Specifically, Director Kimbal Musk sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $538,274,741.40. The trade was a 4.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 7,000 shares of the firm’s stock in a transaction dated 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 directly owns 108,965 shares in the company, valued at $41,745,581.15. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In related 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 transaction, the director now directly owns 85,000 shares in the company, valued at $32,643,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TSLA shares. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Friday, January 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and increased their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. New Street Research upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price objective for the company in a report on Monday, January 6th. Finally, Canaccord Genuity Group lifted their price target on shares of Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $321.71.

Tesla Stock Performance

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

Tesla (NASDAQ:TSLA) last posted 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, research analysts anticipate that Tesla, Inc. will post 2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Tesla

Several large investors have recently modified their holdings of the stock. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter worth approximately $29,000. Peterson Financial Group Inc. acquired a new stake in Tesla during the 3rd quarter worth approximately $35,000. GS Investments Inc. grew its holdings in Tesla by 193.3% in the 4th 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 Tesla during the 4th quarter worth $46,000. Finally, Parkworth Wealth Management Inc. bought a new stake in shares of Tesla in the fourth quarter valued at about $47,000. 66.20% of the stock is owned by institutional investors.

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.