Tesla Inc (NASDAQ:TSLA) Director Sells $6,089,698.10 in Stock

Tesla Inc (NASDAQ:TSLA) Director Antonio J. Gracias sold 33,766 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $180.35, for a total value of $6,089,698.10. Following the completion of the sale, the director now directly owns 14,232 shares of the company’s stock, valued at $2,566,741.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of TSLA traded up $0.62 during trading hours on Friday, hitting $223.46. The company had a trading volume of 6,837,970 shares, compared to its average volume of 10,926,188. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.79. The firm has a market cap of $38.82 billion, a price-to-earnings ratio of -39.07 and a beta of 0.49. Tesla Inc has a 52-week low of $176.99 and a 52-week high of $387.46. The company’s 50 day moving average is $210.36.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, April 24th. The electric vehicle producer reported ($4.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.51) by ($1.59). The business had revenue of $4.54 billion during the quarter, compared to the consensus estimate of $5.18 billion. Tesla had a negative return on equity of 18.23% and a negative net margin of 4.29%. The firm’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($3.35) earnings per share. On average, equities research analysts forecast that Tesla Inc will post -4.57 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc raised its holdings in shares of Tesla by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 7,036,426 shares of the electric vehicle producer’s stock worth $1,863,034,000 after buying an additional 59,018 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Tesla by 42.1% during the 4th quarter. D.A. Davidson & CO. now owns 3,293 shares of the electric vehicle producer’s stock worth $1,096,000 after buying an additional 976 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Tesla by 41.2% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 1,730 shares of the electric vehicle producer’s stock worth $576,000 after buying an additional 505 shares in the last quarter. Regentatlantic Capital LLC raised its holdings in shares of Tesla by 5.4% during the 4th quarter. Regentatlantic Capital LLC now owns 879 shares of the electric vehicle producer’s stock worth $293,000 after buying an additional 45 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC acquired a new position in shares of Tesla during the 4th quarter worth $30,000. 55.68% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently commented on the company. JPMorgan Chase & Co. set a $230.00 price target on Tesla and gave the company a “sell” rating in a research report on Monday, March 4th. Canaccord Genuity reissued a “buy” rating and set a $391.00 price objective (down from $450.00) on shares of Tesla in a report on Thursday, April 4th. JMP Securities reduced their price objective on Tesla from $394.00 to $374.00 and set a “market outperform” rating for the company in a report on Thursday, April 4th. Wedbush reduced their price objective on Tesla from $390.00 to $365.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. Finally, Royal Bank of Canada reissued a “sell” rating and set a $210.00 price objective on shares of Tesla in a report on Thursday, April 4th. Eighteen investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $283.44.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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