Tesla, Inc. (NASDAQ:TSLA) Director Sells $17,322,306.30 in Stock

Tesla, Inc. (NASDAQ:TSLA) Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a filing with the SEC, which is available at this link.

Tesla Stock Down 1.7 %

Tesla stock opened at $174.72 on Thursday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The firm has a market cap of $557.22 billion, a price-to-earnings ratio of 44.57, a price-to-earnings-growth ratio of 4.74 and a beta of 2.41. The business’s 50-day moving average price is $173.12 and its 200 day moving average price is $204.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. HSBC cut their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday, April 24th. Mizuho reduced their target price on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. KGI Securities restated a “neutral” rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. Finally, Barclays reduced their price objective on shares of Tesla from $225.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $185.90.

Institutional Investors Weigh In On Tesla

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hudson Value Partners LLC boosted its holdings in Tesla by 298.2% during the first quarter. Hudson Value Partners LLC now owns 3,930 shares of the electric vehicle producer’s stock worth $691,000 after buying an additional 2,943 shares in the last quarter. Dearborn Partners LLC boosted its stake in shares of Tesla by 13.2% during the 1st quarter. Dearborn Partners LLC now owns 2,817 shares of the electric vehicle producer’s stock worth $495,000 after acquiring an additional 328 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in shares of Tesla during the 1st quarter valued at about $254,000. WP Advisors LLC grew its position in shares of Tesla by 42.1% during the 1st quarter. WP Advisors LLC now owns 4,786 shares of the electric vehicle producer’s stock valued at $841,000 after acquiring an additional 1,417 shares during the period. Finally, New Insight Wealth Advisors increased its stake in shares of Tesla by 0.3% in the 1st quarter. New Insight Wealth Advisors now owns 32,919 shares of the electric vehicle producer’s stock valued at $5,787,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds 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.