Tesla (NASDAQ:TSLA) Stock Price Down 2% After Insider Selling

Tesla, Inc. (NASDAQ:TSLA - Get Free Report) was down 2% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $335.90 and last traded at $338.94. Approximately 23,417,082 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 95,808,750 shares. The stock had previously closed at $346.00.

Specifically, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company's stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Wedbush reissued an "outperform" rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday. Guggenheim raised their target price on Tesla from $153.00 to $156.00 and gave the company a "sell" rating in a research report on Thursday, October 24th. Truist Financial boosted their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a "hold" rating in a report on Thursday, October 24th. Finally, Oppenheimer restated a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus target price of $230.18.

Tesla Price Performance

The stock has a 50 day simple moving average of $259.42 and a 200-day simple moving average of $224.12. The firm has a market cap of $1.10 trillion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS. Equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSLA. International Assets Investment Management LLC boosted its stake in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP raised its position in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer's stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer's stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Tesla by 52.0% in the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer's stock valued at $1,921,548,000 after buying an additional 2,511,488 shares during the last quarter. Hedge funds and other 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.