Traders sold shares of Tesla Inc (NASDAQ:TSLA) on strength during trading on Thursday following insider selling activity. $765.03 million flowed into the stock on the tick-up and $814.84 million flowed out of the stock on the tick-down, for a money net flow of $49.81 million out of the stock. Of all stocks tracked, Tesla had the 0th highest net out-flow for the day. Tesla traded up $3.36 for the day and closed at $363.06Specifically, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the sale, the insider now owns 8,598 shares in the company, valued at $2,630,988. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Elon Musk purchased 29,844 shares of the stock in a transaction on Monday, October 29th. The shares were purchased at an average price of $334.98 per share, for a total transaction of $9,997,143.12. The disclosure for this purchase can be found here. Insiders have sold 26,375 shares of company stock valued at $9,029,040 in the last three months. 22.80% of the stock is owned by corporate insiders.
A number of research firms have weighed in on TSLA. Jefferies Financial Group set a $450.00 price target on Tesla and gave the company a “buy” rating in a research report on Friday. BidaskClub upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Friday. Wolfe Research raised their price target on Tesla from $410.00 to $430.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group restated a “sell” rating and set a $230.00 price target on shares of Tesla in a research report on Tuesday, November 20th. Finally, ValuEngine upgraded Tesla from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 20th. Twelve analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Tesla has an average rating of “Hold” and an average price target of $320.85.
The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 1.82. The stock has a market cap of $61.77 billion, a price-to-earnings ratio of -31.63 and a beta of 0.59.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%. Equities analysts predict that Tesla Inc will post -5.09 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. Honkamp Krueger Financial Services Inc. bought a new stake in Tesla during the 3rd quarter valued at approximately $122,000. Belpointe Asset Management LLC bought a new stake in Tesla during the 3rd quarter valued at approximately $131,000. Destination Wealth Management boosted its position in Tesla by 156.0% during the 3rd quarter. Destination Wealth Management now owns 512 shares of the electric vehicle producer’s stock valued at $136,000 after acquiring an additional 312 shares in the last quarter. Paradigm Asset Management Co. LLC boosted its position in Tesla by 120.0% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 550 shares of the electric vehicle producer’s stock valued at $146,000 after acquiring an additional 300 shares in the last quarter. Finally, Proffitt & Goodson Inc. bought a new stake in Tesla during the 3rd quarter valued at approximately $147,000. 59.50% of the stock is currently owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY WARNING: This article was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and republished in violation of US and international copyright laws. The legal version of this article can be viewed at https://www.dispatchtribunal.com/2018/12/07/investors-sell-shares-of-tesla-tsla-on-strength-after-insider-selling.html.
About Tesla (NASDAQ:TSLA)
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.
Recommended Story: Call Option
Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.