Tesla, Inc. (NASDAQ:TSLA) Director Sells $33,673,167.90 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Tesla Price Performance

TSLA opened at $279.10 on Thursday. The firm has a market cap of $897.73 billion, a P/E ratio of 136.81, a PEG ratio of 5.86 and a beta of 2.50. The firm has a 50-day moving average of $374.97 and a 200 day moving average of $318.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Monday, February 10th. Truist Financial boosted their target price on shares of Tesla from $351.00 to $373.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $365.00 target price on shares of Tesla in a research report on Wednesday, January 29th. Bank of America dropped their target price on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Evercore ISI boosted their target price on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research report on Friday, January 3rd. Nine research analysts have rated the stock with a sell rating, twelve have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $315.33.

Hedge Funds Weigh In On Tesla

Several institutional investors have recently added to or reduced their stakes in the stock. Castle Rock Wealth Management LLC boosted its position in Tesla by 15.5% during the fourth quarter. Castle Rock Wealth Management LLC now owns 3,725 shares of the electric vehicle producer’s stock worth $1,504,000 after purchasing an additional 499 shares during the period. Audent Global Asset Management LLC boosted its position in Tesla by 4.4% during the fourth quarter. Audent Global Asset Management LLC now owns 1,386 shares of the electric vehicle producer’s stock worth $560,000 after purchasing an additional 58 shares during the period. BridgePort Financial Solutions LLC bought a new position in Tesla during the fourth quarter worth about $428,000. Park Square Financial Group LLC bought a new position in Tesla during the fourth quarter worth about $813,000. Finally, Total Wealth Planning & Management Inc. bought a new position in Tesla during the fourth quarter worth about $455,000. Institutional investors own 66.20% of the company’s stock.

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.