Insider Buying: Tesla Inc (NASDAQ:TSLA) Director Acquires $232,720.00 in Stock

Tesla Inc (NASDAQ:TSLA) Director Robyn M. Denholm purchased 1,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of $232.72 per share, with a total value of $232,720.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $232,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NASDAQ TSLA opened at $234.34 on Friday. Tesla Inc has a 52-week low of $176.99 and a 52-week high of $387.46. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.83 and a quick ratio of 0.42. The company has a market cap of $40.71 billion, a P/E ratio of -40.97 and a beta of 0.62. The stock’s fifty day moving average is $234.27.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.55) by ($0.76). Tesla had a negative return on equity of 11.97% and a negative net margin of 2.64%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the firm posted ($3.06) earnings per share. The business’s revenue was up 58.7% on a year-over-year basis. As a group, sell-side analysts predict that Tesla Inc will post -7.51 earnings per share for the current fiscal year.

Several brokerages have commented on TSLA. CIBC cut their price target on shares of Tesla from $437.00 to $356.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Citigroup cut their price target on shares of Tesla from $238.00 to $191.00 and set a “sell” rating for the company in a report on Wednesday, May 22nd. ValuEngine raised shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday. Oppenheimer cut their price target on shares of Tesla from $437.00 to $356.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Finally, Roth Capital reissued a “neutral” rating and issued a $238.00 price target on shares of Tesla in a report on Monday, July 22nd. Eighteen research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $269.53.

A number of institutional investors have recently bought and sold shares of TSLA. ARK Investment Management LLC lifted its stake in shares of Tesla by 54.3% in the second quarter. ARK Investment Management LLC now owns 1,163,182 shares of the electric vehicle producer’s stock worth $259,925,000 after buying an additional 409,332 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Tesla by 1.0% in the first quarter. Northern Trust Corp now owns 924,061 shares of the electric vehicle producer’s stock worth $258,608,000 after buying an additional 9,430 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Tesla by 1,892.8% in the second quarter. SG Americas Securities LLC now owns 736,962 shares of the electric vehicle producer’s stock worth $164,682,000 after buying an additional 699,981 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Tesla by 6.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 715,153 shares of the electric vehicle producer’s stock worth $159,808,000 after buying an additional 42,346 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its stake in shares of Tesla by 249.7% in the second quarter. Nikko Asset Management Americas Inc. now owns 656,695 shares of the electric vehicle producer’s stock worth $146,745,000 after buying an additional 468,884 shares in the last quarter. 55.94% of the stock is owned by institutional investors and hedge funds.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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