Tesla Inc (NASDAQ:TSLA) Director Sells $22,470,351.40 in Stock

Tesla Inc (NASDAQ:TSLA) Director Kimbal Musk sold 64,190 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $350.06, for a total transaction of $22,470,351.40. Following the sale, the director now owns 198,238 shares of the company’s stock, valued at $69,395,194.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

TSLA opened at $352.17 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.08 and a quick ratio of 0.73. Tesla Inc has a 12-month low of $176.99 and a 12-month high of $379.49. The firm’s fifty day moving average price is $281.95 and its 200 day moving average price is $240.54. The stock has a market capitalization of $62.38 billion, a PE ratio of -61.57 and a beta of 0.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $1.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $2.28. Tesla had a negative net margin of 3.39% and a negative return on equity of 13.42%. The business had revenue of $6.30 billion for the quarter, compared to analysts’ expectations of $6.48 billion. During the same quarter last year, the company earned $2.90 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. On average, equities research analysts forecast that Tesla Inc will post -5.12 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. Argus set a $396.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Friday, October 25th. BidaskClub upgraded shares of Tesla from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 11th. Cowen set a $140.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. reiterated a “sell” rating and set a $220.00 price objective on shares of Tesla in a research note on Thursday, October 24th. Finally, UBS Group set a $160.00 price objective on shares of Tesla and gave the stock a “sell” rating in a research note on Thursday, July 25th. Eighteen equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $265.23.

Several hedge funds have recently added to or reduced their stakes in TSLA. Wealthcare Advisory Partners LLC grew its position in Tesla by 8.1% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 520 shares of the electric vehicle producer’s stock valued at $125,000 after buying an additional 39 shares in the last quarter. Joseph P. Lucia & Associates LLC grew its position in Tesla by 1.0% in the 3rd quarter. Joseph P. Lucia & Associates LLC now owns 4,050 shares of the electric vehicle producer’s stock valued at $976,000 after buying an additional 42 shares in the last quarter. Regentatlantic Capital LLC grew its position in Tesla by 4.7% in the 2nd quarter. Regentatlantic Capital LLC now owns 994 shares of the electric vehicle producer’s stock valued at $222,000 after buying an additional 45 shares in the last quarter. Clarus Wealth Advisors grew its position in Tesla by 83.3% in the 2nd quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 50 shares in the last quarter. Finally, BB&T Securities LLC grew its position in Tesla by 1.4% in the 2nd quarter. BB&T Securities LLC now owns 3,560 shares of the electric vehicle producer’s stock valued at $795,000 after buying an additional 50 shares in the last quarter. 54.44% of the stock is currently owned by institutional investors and hedge funds.

About Tesla

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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