Investors Sell Shares of Tesla (TSLA) on Strength After Insider Selling

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.

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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.

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