Key Points
- Kimbal Musk sold 56,820 shares of Tesla on Dec. 9 at an average price of $450.66, generating about $25.6 million and trimming his stake by 3.92% to 1,391,615 shares (valued ~ $627.1M).
- Tesla recently beat quarterly estimates (EPS $0.50 vs $0.48; revenue $28.10B vs $24.98B), but the stock is highly valued with a market cap of $1.49T and a P/E around 298, while MarketBeat shows a consensus rating of "Hold" with an average price target of $399.33.
Tesla, Inc. (NASDAQ:TSLA - Get Free Report) Director Kimbal Musk sold 56,820 shares of the business's stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director owned 1,391,615 shares of the company's stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Tesla Trading Down 1.0%
Shares of NASDAQ TSLA opened at $446.83 on Friday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market cap of $1.49 trillion, a price-to-earnings ratio of 297.89, a PEG ratio of 15.21 and a beta of 1.87. The business's 50 day moving average price is $434.93 and its 200-day moving average price is $375.36.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the prior year, the company posted $0.72 EPS. Tesla's quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.
Hedge Funds Weigh In On Tesla
A number of large investors have recently added to or reduced their stakes in TSLA. Chapman Financial Group LLC acquired a new stake in Tesla in the second quarter valued at approximately $26,000. Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Tesla during the 2nd quarter valued at $29,000. Manning & Napier Advisors LLC acquired a new stake in shares of Tesla in the 3rd quarter worth $29,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the 2nd quarter worth $30,000. 66.20% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on TSLA. Melius initiated coverage on shares of Tesla in a report on Monday, October 13th. They issued a "buy" rating and a $520.00 price target on the stock. Barclays reiterated a "neutral" rating and issued a $350.00 price target on shares of Tesla in a report on Monday, December 1st. New Street Research increased their price objective on Tesla from $465.00 to $520.00 and gave the stock a "buy" rating in a research note on Thursday, October 23rd. President Capital lifted their target price on Tesla from $373.00 to $529.00 and gave the company a "buy" rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $399.33.
Check Out Our Latest Report on Tesla
About Tesla
(
Get Free Report)
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.
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