Tesla (NASDAQ:TSLA) Stock Price Down 4.7% on Insider Selling

Tesla, Inc. (NASDAQ:TSLA)’s share price fell 4.7% during trading on Thursday following insider selling activity. The stock traded as low as $234.00 and last traded at $236.39. 47,638,062 shares were traded during mid-day trading, a decline of 45% from the average session volume of 86,975,102 shares. The stock had previously closed at $248.09.

Specifically, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSLA. Benchmark began coverage on shares of Tesla in a report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Royal Bank of Canada reaffirmed a “mixed” rating on shares of Tesla in a report on Saturday, February 8th. Glj Research reaffirmed a “buy” rating on shares of Tesla in a report on Tuesday. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Finally, Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $325.65.

Tesla Price Performance

The firm has a market capitalization of $804.06 billion, a price-to-earnings ratio of 122.54, a P/E/G ratio of 5.86 and a beta of 2.50. The company has a fifty day moving average price of $351.31 and a two-hundred day moving average price of $318.74. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Tesla

Several large investors have recently modified their holdings of TSLA. True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the third quarter worth $35,000. GS Investments Inc. lifted its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the period. Finally, Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter worth $37,000. 66.20% of the stock is owned by institutional investors and hedge funds.

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.