The CEO of Tesla (NASDAQ: TSLA) is Buying Shares

By Carrie Williams

Yesterday, the CEO of Tesla (TSLAResearch Report), Elon Musk, bought shares of TSLA for $25M.

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Based on Tesla’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $4.54 billion and GAAP net loss of $702 million. In comparison, last year the company earned revenue of $3.41 billion and had a GAAP net loss of $710 million. Currently, Tesla has an average volume of 10.83M. The Company has a Price to Book ratio of 9.6291.

Based on 26 analyst ratings, the analyst consensus is Hold with an average price target of $280.29, reflecting a 9.8% upside. 11 different firms, including Canaccord Genuity and Wedbush, currently also have a Buy rating on the stock. TSLA is a controversial stock, with 8 analysts recommending Buy, while 11 recommends selling the stock.

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Tesla, Inc. engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through Automotive, and Energy Generation and Storage segments.