Robyn M. Denholm Sells 112,390 Shares of Tesla, Inc. (NASDAQ:TSLA) Stock

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Tesla Price Performance

Shares of TSLA stock traded up $6.51 during mid-day trading on Wednesday, reaching $357.93. The company’s stock had a trading volume of 50,235,020 shares, compared to its average volume of 94,815,320. The company has a market cap of $1.15 trillion, a P/E ratio of 96.88, a PEG ratio of 11.60 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The firm’s 50-day moving average is $278.63 and its two-hundred day moving average is $235.10.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its stake in shares of Tesla by 50.7% in the 2nd quarter. NBC Securities Inc. now owns 4,361 shares of the electric vehicle producer’s stock valued at $862,000 after purchasing an additional 1,467 shares during the period. ACT Wealth Management LLC grew its position in shares of Tesla by 4.8% during the 2nd quarter. ACT Wealth Management LLC now owns 4,377 shares of the electric vehicle producer’s stock worth $866,000 after buying an additional 200 shares during the period. CX Institutional increased its stake in shares of Tesla by 37.5% in the 2nd quarter. CX Institutional now owns 58,776 shares of the electric vehicle producer’s stock valued at $11,631,000 after acquiring an additional 16,034 shares during the last quarter. TTP Investments Inc. raised its position in shares of Tesla by 0.5% in the 2nd quarter. TTP Investments Inc. now owns 25,888 shares of the electric vehicle producer’s stock valued at $5,123,000 after acquiring an additional 116 shares during the period. Finally, Prentice Wealth Management LLC grew its holdings in Tesla by 4.6% during the second quarter. Prentice Wealth Management LLC now owns 2,022 shares of the electric vehicle producer’s stock valued at $400,000 after purchasing an additional 88 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. HSBC reaffirmed a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. Finally, UBS Group boosted their target price on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $243.75.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.