Robyn M. Denholm Sells 25,000 Shares of Tesla, Inc. (NASDAQ:TSLA) Stock
Tesla, Inc. (NASDAQ:TSLA – Get Rating) Director Robyn M. Denholm sold 25,000 shares of Tesla stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $757.33, for a total transaction of $18,933,250.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $3,786,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Tesla stock traded down $71.45 during mid-day trading on Friday, reaching $703.55. 37,351,746 shares of the company’s stock traded hands, compared to its average volume of 27,643,883. The company has a market cap of $728.88 billion, a price-to-earnings ratio of 95.46, a PEG ratio of 2.41 and a beta of 2.13. The stock has a 50 day moving average of $893.21 and a two-hundred day moving average of $942.73. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.09. Tesla, Inc. has a 12-month low of $577.20 and a 12-month high of $1,243.49.
Tesla (NASDAQ:TSLA – Get Rating) last announced its earnings results on Wednesday, April 20th. The electric vehicle producer reported $2.86 earnings per share for the quarter, beating the consensus estimate of $1.64 by $1.22. Tesla had a net margin of 13.51% and a return on equity of 28.11%. The business had revenue of $18.76 billion for the quarter, compared to the consensus estimate of $17.84 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was up 80.5% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 10.25 earnings per share for the current year.
A number of brokerages have recently commented on TSLA. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Oppenheimer lifted their price target on shares of Tesla from $1,103.00 to $1,291.00 and gave the stock an “outperform” rating in a research note on Thursday, April 21st. Exane BNP Paribas reduced their price target on shares of Tesla from $700.00 to $600.00 and set an “underperform” rating for the company in a research note on Wednesday, May 18th. Sanford C. Bernstein lifted their price target on shares of Tesla from $300.00 to $450.00 and gave the stock an “underperform” rating in a research note on Monday, February 28th. Finally, StockNews.com initiated coverage on shares of Tesla in a research report on Thursday, March 31st. They set a “hold” rating for the company. Eight research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $901.82.
Institutional investors and hedge funds have recently made changes to their positions in the company. Paragon Capital Management Ltd bought a new position in shares of Tesla in the fourth quarter worth about $25,000. AllSquare Wealth Management LLC grew its holdings in shares of Tesla by 766.7% in the fourth quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 23 shares during the last quarter. Verity Asset Management Inc. bought a new position in shares of Tesla in the first quarter worth about $28,000. Northwest Investment Counselors LLC bought a new position in shares of Tesla in the fourth quarter worth about $31,000. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Tesla in the fourth quarter worth about $32,000. 40.64% of the stock is currently owned by institutional investors and hedge funds.
About Tesla (Get Rating)
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.
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