Traders bought shares of Tesla Inc. (NASDAQ:TSLA) on weakness during trading hours on Friday after an insider sold shares in the company. $363.82 million flowed into the stock on the tick-up and $341.78 million flowed out of the stock on the tick-down, for a money net flow of $22.04 million into the stock. Of all stocks tracked, Tesla had the 12th highest net in-flow for the day. Tesla traded down ($4.88) for the day and closed at $348.05Specifically, Director Stephen T. Jurvetson sold 44,777 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $340.36, for a total value of $15,240,299.72. Following the completion of the sale, the director now directly owns 36,111 shares in the company, valued at approximately $12,290,739.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 4,690 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $367.68, for a total value of $1,724,419.20. Following the completion of the sale, the director now owns 166,164 shares of the company’s stock, valued at $61,095,179.52. The disclosure for this sale can be found here. Insiders sold a total of 51,657 shares of company stock valued at $17,668,497 over the last quarter. Company insiders own 23.10% of the company’s stock.
A number of brokerages recently weighed in on TSLA. Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $335.62 price objective for the company in a research note on Tuesday, June 13th. Robert W. Baird restated an “outperform” rating and set a $368.00 price objective on shares of Tesla in a research note on Tuesday, June 20th. BidaskClub cut Tesla from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada restated a “sector perform” rating and set a $345.00 price objective (up from $314.00) on shares of Tesla in a research note on Wednesday, August 9th. Finally, Deutsche Bank AG restated a “hold” rating and set a $240.00 price objective on shares of Tesla in a research note on Wednesday, August 9th. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $310.84.
The firm’s market cap is $58.09 billion. The stock has a 50-day moving average price of $340.43 and a 200 day moving average price of $314.17.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, August 2nd. The electric vehicle producer reported ($1.33) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.00) by $0.67. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Tesla had a negative return on equity of 16.36% and a negative net margin of 7.61%. The business’s revenue for the quarter was up 119.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.06) earnings per share. Analysts forecast that Tesla Inc. will post ($6.17) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of TSLA. Pittenger & Anderson Inc. raised its position in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after buying an additional 50 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Tesla by 1,213.3% in the first quarter. SRS Capital Advisors Inc. now owns 394 shares of the electric vehicle producer’s stock worth $109,000 after buying an additional 364 shares in the last quarter. Winfield Associates Inc. raised its position in Tesla by 85.2% in the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after buying an additional 150 shares in the last quarter. Advisory Services Network LLC bought a new position in Tesla during the first quarter worth approximately $122,000. Finally, Acropolis Investment Management LLC bought a new position in Tesla during the second quarter worth approximately $122,000. Institutional investors and hedge funds own 62.92% of the company’s stock.
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About Tesla
Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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