Insider Selling: Kimbal Musk Sells 4,287 Shares of Tesla Motors Stock (TSLA)
Tesla Motors (NASDAQ:TSLA) Director Kimbal Musk sold 4,287 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $234.46, for a total transaction of $1,005,130.02. Following the transaction, the director now directly owns 166,435 shares of the company’s stock, valued at approximately $39,022,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Tesla Motors (NASDAQ:TSLA) traded up 4.38% during mid-day trading on Wednesday, hitting $248.9301. 9,241,546 shares of the company’s stock traded hands. Tesla Motors has a 1-year low of $116.10 and a 1-year high of $265.00. The stock has a 50-day moving average of $227.4 and a 200-day moving average of $213.2. The company’s market cap is $30.930 billion.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.07. The company had revenue of $857.50 million for the quarter, compared to the consensus estimate of $810.57 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 55.3% on a year-over-year basis. On average, analysts predict that Tesla Motors will post $1.12 earnings per share for the current fiscal year.
TSLA has been the subject of a number of recent research reports. Analysts at Pacific Crest initiated coverage on shares of Tesla Motors in a research note on Tuesday. They set an “outperform” rating and a $316.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Tesla Motors from $163.00 to $170.00 in a research note on Friday, August 1st. They now have a “neutral” rating on the stock. Finally, analysts at Morgan Stanley reiterated a “buy” rating on shares of Tesla Motors in a research note on Wednesday, July 30th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $222.00.
Tesla Motors, Inc (NASDAQ:TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components.
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