Tesla (NASDAQ:TSLA) Stock Price Down 3.8% Following Insider Selling

Tesla, Inc. (NASDAQ:TSLA)’s stock price fell 3.8% on Thursday after an insider sold shares in the company. The company traded as low as $316.28 and last traded at $317.80. 35,299,711 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 95,557,852 shares. The stock had previously closed at $330.24.

Specifically, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Friday, November 8th. The shares were sold at an average price of $300.37, for a total value of $2,402,960.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $31,548,461.84. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TSLA shares. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. Finally, Barclays upped their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.49, a P/E/G ratio of 10.73 and a beta of 2.29. The stock has a fifty day simple moving average of $250.10 and a two-hundred day simple moving average of $219.58.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. Analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its holdings in Tesla by 3.5% during the 3rd quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tesla by 13.7% during the third 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 worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after buying an additional 301,968 shares in the last quarter. Jennison Associates LLC raised its position in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. 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.