Insider Selling: Tesla Inc (TSLA) Insider Sells 15,000 Shares of Stock

Tesla Inc (NASDAQ:TSLA) insider Jeffrey B. Straubel sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $348.44, for a total transaction of $5,226,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

NASDAQ TSLA traded down $0.89 on Friday, reaching $350.51. The company’s stock had a trading volume of 5,095,338 shares, compared to its average volume of 8,863,253. The stock has a market cap of $58.57 billion, a P/E ratio of -30.53 and a beta of 0.48. Tesla Inc has a 52 week low of $244.59 and a 52 week high of $387.46. The company has a quick ratio of 0.37, a current ratio of 0.81 and a debt-to-equity ratio of 1.82.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.77) by $4.67. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.27%. Research analysts anticipate that Tesla Inc will post -5.09 earnings per share for the current year.

A number of research analysts have weighed in on TSLA shares. Zacks Investment Research raised shares of Tesla from a “hold” rating to a “strong-buy” rating and set a $381.00 target price for the company in a research report on Tuesday, October 30th. Nord/LB restated a “sell” rating and set a $230.00 price objective on shares of Tesla in a report on Tuesday, September 11th. Oppenheimer restated a “buy” rating and set a $385.00 price objective on shares of Tesla in a report on Monday, October 1st. Sanford C. Bernstein set a $325.00 price objective on shares of Tesla and gave the stock a “neutral” rating in a report on Friday, September 28th. Finally, Macquarie initiated coverage on shares of Tesla in a report on Monday, October 8th. They set an “outperform” rating and a $430.00 price objective on the stock. Thirteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Tesla currently has an average rating of “Hold” and a consensus price target of $318.58.

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. State of New Jersey Common Pension Fund D bought a new stake in Tesla during the third quarter worth about $13,239,000. Royal London Asset Management Ltd. bought a new stake in Tesla during the second quarter worth about $19,278,000. AdvisorNet Financial Inc grew its stake in Tesla by 150.4% during the second quarter. AdvisorNet Financial Inc now owns 2,785 shares of the electric vehicle producer’s stock worth $955,000 after buying an additional 1,673 shares during the last quarter. Macquarie Group Ltd. grew its stake in Tesla by 10.9% during the second quarter. Macquarie Group Ltd. now owns 62,596 shares of the electric vehicle producer’s stock worth $21,467,000 after buying an additional 6,147 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Tesla by 53.1% during the second quarter. Signaturefd LLC now owns 853 shares of the electric vehicle producer’s stock worth $293,000 after buying an additional 296 shares during the last quarter. 62.17% of the stock is currently owned by institutional investors and hedge funds.

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About Tesla

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The firm operates through Automotive, and Energy Generation and Storage segments.

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