Insider Selling: Tesla Motors Inc. (TSLA) Insider Sells $6,379,112.60 in Stock
Tesla Motors Inc. (NASDAQ:TSLA) insider Jeffrey B. Straubel sold 33,430 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $190.82, for a total value of $6,379,112.60. Following the sale, the insider now owns 359,655 shares in the company, valued at $68,629,367.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Tesla Motors Inc. (NASDAQ:TSLA) opened at 196.65 on Friday. The company has a 50-day moving average price of $194.23 and a 200-day moving average price of $210.26. Tesla Motors Inc. has a 52 week low of $141.05 and a 52 week high of $269.34. The stock’s market cap is $29.48 billion.
Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.25. Tesla Motors had a negative return on equity of 29.17% and a negative net margin of 14.74%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the company earned ($0.58) earnings per share. The company’s revenue was up 145.3% on a year-over-year basis. Equities research analysts anticipate that Tesla Motors Inc. will post ($2.04) EPS for the current year.
TRADEMARK VIOLATION WARNING: This story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another domain, it was stolen and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be read at https://www.thecerbatgem.com/2016/11/26/insider-selling-tesla-motors-inc-tsla-insider-sells-6379112-60-in-stock.html.
Several hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. raised its stake in Tesla Motors by 9.5% in the second quarter. Baillie Gifford & Co. now owns 13,066,791 shares of the electric vehicle producer’s stock worth $2,773,818,000 after buying an additional 1,137,759 shares in the last quarter. Vanguard Group Inc. raised its stake in Tesla Motors by 13.4% in the second quarter. Vanguard Group Inc. now owns 4,894,369 shares of the electric vehicle producer’s stock worth $1,038,976,000 after buying an additional 578,459 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Tesla Motors by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,807,714 shares of the electric vehicle producer’s stock worth $572,858,000 after buying an additional 110,714 shares in the last quarter. Bamco Inc. NY raised its stake in Tesla Motors by 7.7% in the third quarter. Bamco Inc. NY now owns 1,555,911 shares of the electric vehicle producer’s stock worth $317,452,000 after buying an additional 111,256 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in Tesla Motors by 24.2% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 808,661 shares of the electric vehicle producer’s stock worth $171,663,000 after buying an additional 157,425 shares in the last quarter. 64.36% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on TSLA. Robert W. Baird set a $338.00 price objective on Tesla Motors and gave the company a “buy” rating in a research report on Wednesday, September 28th. Mizuho restated a “positive” rating on shares of Tesla Motors in a research report on Thursday, October 20th. Citigroup Inc. restated an “underweight” rating on shares of Tesla Motors in a research report on Friday, October 21st. Dougherty & Co restated a “buy” rating and set a $500.00 price objective on shares of Tesla Motors in a research report on Thursday, October 27th. Finally, Pacific Crest restated a “hold” rating on shares of Tesla Motors in a research report on Thursday, October 27th. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $243.38.
About Tesla Motors
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
Receive News & Stock Ratings for Tesla Motors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla Motors Inc. and related stocks with our FREE daily email newsletter.