Elon Musk Purchases 29,844 Shares of Tesla Inc (TSLA) Stock

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk bought 29,844 shares of the stock in a transaction on Monday, October 29th. The stock was purchased at an average cost of $334.98 per share, with a total value of $9,997,143.12. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of TSLA stock opened at $329.90 on Wednesday. The company has a quick ratio of 0.37, a current ratio of 0.73 and a debt-to-equity ratio of 2.01. Tesla Inc has a 12-month low of $244.59 and a 12-month high of $387.46. The firm has a market cap of $56.45 billion, a PE ratio of -28.74 and a beta of 0.84.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. Tesla had a negative net margin of 10.22% and a negative return on equity of 34.62%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $5.67 billion. On average, research analysts anticipate that Tesla Inc will post -10.77 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of TSLA. Northwest Wealth Management LLC acquired a new position in Tesla during the second quarter worth $103,000. Stelac Advisory Services LLC acquired a new position in Tesla during the second quarter worth $114,000. BerganKDV Wealth Management LLC acquired a new position in Tesla during the second quarter worth $124,000. Mogy Joel R Investment Counsel Inc. acquired a new position in Tesla during the second quarter worth $201,000. Finally, Goodwin Daniel L acquired a new position in Tesla during the second quarter worth $206,000. 62.15% of the stock is owned by institutional investors.

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of Tesla from $250.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Nomura reaffirmed a “neutral” rating and issued a $450.00 target price (up previously from $400.00) on shares of Tesla in a research note on Tuesday, September 11th. Morgan Stanley set a $291.00 target price on shares of Tesla and gave the company a “neutral” rating in a research note on Monday, August 27th. JMP Securities reaffirmed a “buy” rating and issued a $412.00 target price on shares of Tesla in a research note on Thursday, October 25th. Finally, Evercore ISI set a $299.00 target price on shares of Tesla and gave the company a “hold” rating in a research note on Thursday, October 4th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $319.79.

Tesla Company Profile

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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Insider Buying and Selling by Quarter for Tesla (NASDAQ:TSLA)

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