Robyn M. Denholm Sells 112,390 Shares of Tesla, Inc. (NASDAQ:TSLA) Stock

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $6.51 during trading on Wednesday, hitting $357.93. 50,235,020 shares of the stock were exchanged, compared to its average volume of 94,815,320. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.93. The company has a market cap of $1.15 trillion, a PE ratio of 96.88, a P/E/G ratio of 11.60 and a beta of 2.36. The company has a fifty day moving average price of $278.63 and a two-hundred day moving average price of $235.10. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. Boulder Wealth Advisors LLC acquired a new stake in Tesla during the third quarter worth about $232,000. Oriental Harbor Investment Fund acquired a new stake in shares of Tesla in the third quarter valued at about $14,700,000. Inspire Trust Co. N.A. raised its holdings in shares of Tesla by 23.3% during the 3rd quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock valued at $2,145,000 after buying an additional 1,548 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in shares of Tesla by 1,089.8% in the third quarter. Beaird Harris Wealth Management LLC now owns 25,949 shares of the electric vehicle producer’s stock valued at $6,789,000 after purchasing an additional 23,768 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Tesla by 8.2% during the third quarter. Franklin Resources Inc. now owns 3,958,174 shares of the electric vehicle producer’s stock valued at $1,035,577,000 after acquiring an additional 300,951 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday. Truist Financial raised their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Finally, Piper Sandler boosted their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $243.75.

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.