Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm Sells 112,390 Shares

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tesla Stock Performance

NASDAQ TSLA traded up $7.26 on Tuesday, reaching $346.00. The stock had a trading volume of 88,565,972 shares, compared to its average volume of 96,129,742. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a fifty day moving average of $254.75 and a two-hundred day moving average of $222.13. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The company has a market cap of $1.11 trillion, a P/E ratio of 94.79, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several research analyst reports. Canaccord Genuity Group raised their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Bank of America raised their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Wolfe Research began coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Truist Financial lifted their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $230.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Finally, Clean Yield Group lifted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

About Tesla

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.