Kimbal Musk Sells 75,000 Shares of Tesla, Inc. (NASDAQ:TSLA) Stock

Tesla, Inc. (NASDAQ:TSLA) Director Kimbal Musk sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $367.87, for a total transaction of $27,590,250.00. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $538,274,741.40. This represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tesla Trading Up 2.4 %

NASDAQ TSLA opened at $336.51 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 164.96, a PEG ratio of 6.22 and a beta of 2.34. Tesla, Inc. has a one year low of $138.80 and a one year high of $488.54. The business’s fifty day moving average is $407.68 and its 200-day moving average is $306.23.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. Equities research analysts predict that Tesla, Inc. will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. New Street Research raised Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target on the stock in a research note on Monday, January 6th. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, January 29th. Morgan Stanley boosted their target price on Tesla from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Wednesday. Finally, Bank of America lowered shares of Tesla from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $400.00 to $490.00 in a research note on Tuesday, January 7th. Nine equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $326.50.

Hedge Funds Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Tesla during the 4th quarter valued at $14,420,248,000. International Assets Investment Management LLC raised its stake in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in Tesla by 55,181.0% during the 4th quarter. Proficio Capital Partners LLC now owns 4,382,674 shares of the electric vehicle producer’s stock valued at $1,769,899,000 after purchasing an additional 4,374,746 shares during the period. Institutional investors own 66.20% of the company’s stock.

About Tesla

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.