Tesla (NASDAQ:TSLA) Stock Price Down 1.6% After Insider Selling

Tesla, Inc. (NASDAQ:TSLA) fell 1.6% on Wednesday after an insider sold shares in the company. The company traded as low as $170.15 and last traded at $174.90. 35,289,943 shares traded hands during trading, a decline of 66% from the average session volume of 103,297,234 shares. The stock had previously closed at $177.81.

Specifically, Director Robyn M. Denholm sold 93,706 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,920,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the completion of the sale, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,803 shares of company stock worth $56,124,840. Corporate insiders own 20.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TSLA shares. Sanford C. Bernstein reduced their target price on Tesla from $150.00 to $120.00 and set an “underperform” rating on the stock in a report on Tuesday, March 26th. Guggenheim reaffirmed a “sell” rating and issued a $122.00 price objective on shares of Tesla in a research note on Tuesday, April 23rd. Barclays lowered their target price 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. Jefferies Financial Group decreased their price target on Tesla from $185.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, April 10th. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.90.

Tesla Stock Performance

The company has a market cap of $557.22 billion, a PE ratio of 44.57, a P/E/G ratio of 4.74 and a beta of 2.41. The company’s fifty day moving average price is $173.12 and its 200 day moving average price is $204.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Hedge Funds Weigh In On Tesla

Hedge funds have recently modified their holdings of the company. Holderness Investments Co. grew its stake in Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock valued at $650,000 after purchasing an additional 42 shares during the period. SCS Capital Management LLC raised its holdings in shares of Tesla by 0.3% in the 3rd quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after purchasing an additional 45 shares during the period. Daymark Wealth Partners LLC lifted its stake in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the last quarter. ML & R Wealth Management LLC grew its holdings in Tesla by 2.6% during the third quarter. ML & R Wealth Management LLC now owns 1,819 shares of the electric vehicle producer’s stock valued at $455,000 after purchasing an additional 46 shares during the period. Finally, LCM Capital Management Inc increased its position in Tesla by 3.5% in the third quarter. LCM Capital Management Inc now owns 1,374 shares of the electric vehicle producer’s stock worth $344,000 after buying an additional 46 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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.