Tesla Inc (TSLA) Insider Jeffrey B. Straubel Sells 15,000 Shares of Stock

Tesla Inc (NASDAQ:TSLA) insider Jeffrey B. Straubel sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $348.44, for a total transaction of $5,226,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Tesla stock traded down $0.89 during trading on Friday, reaching $350.51. The company had a trading volume of 5,093,378 shares, compared to its average volume of 10,825,698. Tesla Inc has a 12-month low of $244.59 and a 12-month high of $387.46. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.37 and a current ratio of 0.81.

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

Institutional investors have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D purchased a new stake in Tesla in the third quarter valued at approximately $13,239,000. Royal London Asset Management Ltd. purchased a new stake in Tesla in the second quarter valued at approximately $19,278,000. AdvisorNet Financial Inc grew its holdings in Tesla by 150.4% in the second quarter. AdvisorNet Financial Inc now owns 2,785 shares of the electric vehicle producer’s stock valued at $955,000 after purchasing an additional 1,673 shares during the period. Macquarie Group Ltd. grew its holdings in Tesla by 10.9% in the second quarter. Macquarie Group Ltd. now owns 62,596 shares of the electric vehicle producer’s stock valued at $21,467,000 after purchasing an additional 6,147 shares during the period. Finally, Signaturefd LLC grew its holdings in Tesla by 53.1% in the second quarter. Signaturefd LLC now owns 853 shares of the electric vehicle producer’s stock valued at $293,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 62.17% of the company’s stock.

Several research firms have weighed in on TSLA. Zacks Investment Research downgraded shares of Tesla from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Sanford C. Bernstein restated a “neutral” rating and set a $325.00 target price on shares of Tesla in a report on Monday, September 10th. Canaccord Genuity set a $316.00 target price on shares of Tesla and gave the company a “hold” rating in a report on Tuesday, August 28th. Evercore ISI set a $301.00 target price on shares of Tesla and gave the company a “hold” rating in a report on Wednesday, August 8th. Finally, Royal Bank of Canada restated a “neutral” rating and set a $315.00 target price on shares of Tesla in a report on Wednesday, August 8th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Tesla currently has a consensus rating of “Hold” and an average price target of $318.58.

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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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