Jeffrey B. Straubel Sells 33,430 Shares of Tesla Motors Inc. (TSLA) Stock
Tesla Motors Inc. (NASDAQ:TSLA) insider Jeffrey B. Straubel sold 33,430 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $190.82, for a total transaction 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 stock 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 12 month low of $141.05 and a 12 month high of $269.34. The stock’s market cap is $29.48 billion.
Tesla Motors (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 26th. The electric vehicle producer reported $0.71 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 earned $2.30 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the business earned ($0.58) EPS. The business’s quarterly revenue was up 145.3% on a year-over-year basis. On average, analysts expect that Tesla Motors Inc. will post ($2.04) EPS for the current year.
Several large investors have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC increased its stake in shares of 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 during the period. Baillie Gifford & Co. increased its stake in shares of 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tesla Motors by 3.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,750 shares of the electric vehicle producer’s stock worth $12,047,000 after buying an additional 1,987 shares during the period. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of Tesla Motors by 0.7% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 155,275 shares of the electric vehicle producer’s stock worth $32,962,000 after buying an additional 1,067 shares during the period. Finally, Goodwin Daniel L purchased a new stake in shares of Tesla Motors during the second quarter worth $318,000. Institutional investors and hedge funds own 64.36% of the company’s stock.
TSLA has been the topic of a number of recent research reports. Morgan Stanley cut their target price on shares of Tesla Motors from $242.00 to $50.00 in a research note on Wednesday. Robert W. Baird set a $338.00 target price on shares of Tesla Motors and gave the stock a “buy” rating in a research note on Monday, September 12th. Vetr lowered shares of Tesla Motors from a “strong-buy” rating to a “buy” rating and set a $223.68 target price on the stock. in a research note on Tuesday, September 6th. Finally, FBN Securities restated a “buy” rating and set a $275.00 target price on shares of Tesla Motors in a research note on Thursday, October 27th. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. Tesla Motors currently has a consensus 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.
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