Tesla (TSLA) Bonds Trading 1.7% Lower Insider Trade
An issue of Tesla Inc (NASDAQ:TSLA) debt fell 1.7% as a percentage of its face value during trading on Friday following insider selling activity. The high-yield debt issue has a 5.3% coupon and will mature on August 15, 2025. The bonds in the issue are now trading at $96.55 and were trading at $96.00 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its share price. Specifically, Director Kimbal Musk sold 2,190 shares of Tesla stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $341.69, for a total value of $748,301.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Douglas Field sold 1,400 shares of Tesla stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $340.67, for a total value of $476,938.00. Following the completion of the sale, the vice president now directly owns 21,528 shares of the company’s stock, valued at approximately $7,333,943.76. The disclosure for this sale can be found here. Insiders have sold 12,817 shares of company stock valued at $4,171,699 in the last three months. 23.10% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on the company. Robert W. Baird reaffirmed a “buy” rating and issued a $411.00 price objective on shares of Tesla in a research report on Friday, September 29th. Vetr downgraded Tesla from a “sell” rating to a “strong sell” rating and set a $298.58 price objective for the company. in a research report on Tuesday, September 26th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $317.00 price objective on shares of Tesla in a research report on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $386.00 price objective on shares of Tesla in a research report on Wednesday, September 27th. Finally, Instinet assumed coverage on Tesla in a research report on Wednesday, October 4th. They issued a “buy” rating and a $500.00 price objective for the company. Thirteen equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $331.04.
The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.
Institutional investors and hedge funds have recently modified their holdings of the business. Wealthcare Advisory Partners LLC acquired a new position in shares of Tesla during the third quarter worth about $100,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Tesla during the third quarter worth about $106,000. Pittenger & Anderson Inc. lifted its stake in shares of Tesla by 20.0% during the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after purchasing an additional 50 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Tesla by 285.7% during the second quarter. First Eagle Investment Management LLC now owns 405 shares of the electric vehicle producer’s stock worth $146,000 after purchasing an additional 300 shares in the last quarter. Finally, First Personal Financial Services acquired a new position in shares of Tesla during the third quarter worth about $148,000. Institutional investors own 57.20% of the company’s stock.
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Tesla Company Profile
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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