Tesla (NASDAQ:TSLA) Director Kimbal Musk Sells 56,820 Shares

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $4.62 on Thursday, reaching $446.83. 55,602,077 shares of the company’s stock were exchanged, compared to its average volume of 98,691,992. The business’s 50-day moving average is $434.72 and its two-hundred day moving average is $374.86. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 297.89, a PEG ratio of 14.99 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the firm earned $0.72 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. Glj Research reissued a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. UBS Group reaffirmed a “sell” rating on shares of Tesla in a research report on Friday, November 7th. Melius started coverage on shares of Tesla in a report on Monday, October 13th. They set a “buy” rating and a $520.00 price target for the company. China Renaissance increased their price objective on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Finally, Cowen reissued a “buy” rating on shares of Tesla in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $399.33.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Painted Porch Advisors LLC lifted its holdings in Tesla by 80.4% in the 3rd quarter. Painted Porch Advisors LLC now owns 956 shares of the electric vehicle producer’s stock valued at $425,000 after acquiring an additional 426 shares during the last quarter. MRP Capital Investments LLC raised its holdings in shares of Tesla by 2.2% in the 3rd quarter. MRP Capital Investments LLC now owns 5,638 shares of the electric vehicle producer’s stock worth $2,507,000 after purchasing an additional 120 shares in the last quarter. IFP Advisors Inc lifted its stake in Tesla by 4.3% during the third quarter. IFP Advisors Inc now owns 22,630 shares of the electric vehicle producer’s stock valued at $10,065,000 after purchasing an additional 926 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Tesla by 7.0% during the third quarter. Swiss Life Asset Management Ltd now owns 862,544 shares of the electric vehicle producer’s stock worth $383,591,000 after buying an additional 56,565 shares in the last quarter. Finally, Steadtrust LLC acquired a new position in Tesla in the third quarter worth approximately $592,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.