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

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total value of $33,673,167.90. Following the transaction, the director now owns 85,000 shares of the company's stock, valued at approximately $25,466,850. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tesla Stock Up 2.6 %

Shares of NASDAQ:TSLA traded up $7.06 on Wednesday, reaching $279.10. The company had a trading volume of 93,729,305 shares, compared to its average volume of 81,642,086. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The firm's 50 day simple moving average is $374.97 and its 200-day simple moving average is $318.13. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $897.73 billion, a PE ratio of 136.81, a PEG ratio of 5.86 and a beta of 2.34.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 net margin of 7.26% and a return on equity of 10.31%. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America decreased their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday. StockNews.com lowered shares of Tesla from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Phillip Securities downgraded Tesla from a "moderate sell" rating to a "strong sell" rating in a report on Wednesday, November 13th. Truist Financial boosted their price target on Tesla from $351.00 to $373.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Finally, UBS Group reissued a "neutral" rating on shares of Tesla in a research report on Tuesday. Nine research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $315.33.

Institutional Investors Weigh In On Tesla

Large investors have recently added to or reduced their stakes in the business. Castle Rock Wealth Management LLC increased its position in shares of 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 in the last quarter. Audent Global Asset Management LLC lifted its holdings in shares of Tesla by 4.4% in the fourth quarter. Audent Global Asset Management LLC now owns 1,386 shares of the electric vehicle producer's stock valued at $560,000 after purchasing an additional 58 shares in the last quarter. BridgePort Financial Solutions LLC purchased a new position in Tesla during the fourth quarter worth $428,000. Park Square Financial Group LLC acquired a new stake in shares of Tesla during the 4th quarter worth about $813,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in shares of Tesla in the fourth quarter valued at $455,000. 66.20% of the stock is owned by hedge funds and other 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.

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