Traders Sell Tesla (TSLA) on Strength on Insider Selling

Investors sold shares of Tesla Inc (NASDAQ:TSLA) on strength during trading hours on Monday after an insider sold shares in the company. $469.85 million flowed into the stock on the tick-up and $503.94 million flowed out of the stock on the tick-down, for a money net flow of $34.09 million out of the stock. Of all stocks tracked, Tesla had the 10th highest net out-flow for the day. Tesla traded up $6.68 for the day and closed at $349.53Specifically, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $330.29, for a total value of $723,335.10. Following the sale, the director now directly owns 154,419 shares in the company, valued at approximately $51,003,051.51. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John Douglas Field sold 600 shares of Tesla stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $301.60, for a total transaction of $180,960.00. Following the completion of the sale, the vice president now owns 21,424 shares in the company, valued at $6,461,478.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,757 shares of company stock worth $4,721,537. 23.10% of the stock is currently owned by insiders.

Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Tesla from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Vetr raised shares of Tesla from a “strong sell” rating to a “sell” rating and set a $320.97 target price on the stock in a research note on Friday, October 13th. Oppenheimer reissued a “hold” rating on shares of Tesla in a research note on Monday, October 16th. Barclays reissued a “sell” rating on shares of Tesla in a research note on Sunday, October 15th. Finally, Guggenheim reissued a “buy” rating and set a $430.00 target price on shares of Tesla in a research note on Friday, October 6th. Twelve equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $329.48.

The firm has a market cap of $58,740.00, a P/E ratio of -40.83 and a beta of 0.94. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. equities analysts forecast that Tesla Inc will post -11.38 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rikoon Group LLC grew its stake in shares of Tesla by 7.8% in the 2nd quarter. Rikoon Group LLC now owns 691 shares of the electric vehicle producer’s stock worth $249,000 after purchasing an additional 50 shares during the last quarter. Linscomb & Williams Inc. grew its stake in shares of Tesla by 1.4% in the 2nd quarter. Linscomb & Williams Inc. now owns 6,630 shares of the electric vehicle producer’s stock worth $2,397,000 after purchasing an additional 90 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Tesla by 21.6% in the 2nd quarter. Advisory Services Network LLC now owns 534 shares of the electric vehicle producer’s stock worth $193,000 after purchasing an additional 95 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Tesla by 2.3% in the second quarter. Nordea Investment Management AB now owns 4,718 shares of the electric vehicle producer’s stock worth $1,706,000 after buying an additional 106 shares during the period. Finally, Gofen & Glossberg LLC IL boosted its holdings in shares of Tesla by 13.6% in the second quarter. Gofen & Glossberg LLC IL now owns 1,037 shares of the electric vehicle producer’s stock worth $375,000 after buying an additional 124 shares during the period. 57.19% of the stock is currently owned by institutional investors.

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Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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