Elon Musk sells $3.6bn of shares in electric car maker Tesla (2024)

FAQs

Why is Elon Musk selling so many shares of Tesla? ›

Stock sales by key executives always make shareholders nervous. What's more, Musk owns a lot of Tesla stock. He has sold a lot from time to time, too. Musk sold billions of dollars in stock in late 2021, mainly to pay taxes while exercising expiring stock options, while debating the taxation of billionaires with Sen.

Elon Musk is Tesla's largest shareholder, owning around 20.5% of the company's total outstanding stock in May 2024. Consequently, his share ownership is far larger than that of other individual and institutional shareholders.

Number of shares outstanding as of April 2024 : 3,176,000,000. According to Tesla's latest financial reports and stock price the company's current number of shares outstanding is 3,176,000,000. At the end of 2023 the company had 3,176,000,000 shares outstanding.

Tesla shares have been spiraling since the calendar turned, tumbling 29% in the first quarter, the worst period since late 2022 and the third-steepest drop since the company's initial public offering in 2010. The stock is 60% below its peak reached in November 2021.

Tesla, Inc. Unique among foreign automakers in China, the plant is wholly owned by Tesla and not operated as a joint venture with a Chinese company, the first time the government had allowed such an arrangement. While Tesla owns the factory, it does not own the land it is built on, as is typical in China.

The ownership structure of Tesla (TSLA) stock is a mix of institutional, retail and individual investors. Approximately 31.45% of the company's stock is owned by Institutional Investors, 13.64% is owned by Insiders and 54.91% is owned by Public Companies and Individual Investors.

Buffett is a longtime investor in China-based Tesla rival BYD (BYDDF) but so far has decided against investing in Tesla.

Tesla was incorporated in July 2003 by Martin Eberhard and Marc Tarpenning as Tesla Motors. The company's name is a tribute to inventor and electrical engineer Nikola Tesla. In February 2004, Elon Musk joined as the company's largest shareholder and in 2008 he was named CEO.

Stock valuation: Tesla is a high-growth stock. With uncertainty around the company's affordable vehicle and declining deliveries, its stock sold off heavily in early April as market sentiment turned against its growth prospects. We believe the earnings report and call went a long way to improve market sentiment.

Overall, 43% of analysts covering Tesla stock rate shares Buy, according to FactSet. The average Buy-rating ratio for stocks in the S&P 500 is about 55%. The average analyst price target for Tesla shares is about $183 each.

Has Tesla ever had a profitable year? ›

Net income attributable to Tesla's common stockholders was nearly 15 billion U.S. dollars, while net loss related to noncontrolling interests amounted to 23 million U.S. dollars in 2023. This was the fourth year the company turned a full-year profit, after reaching that goal in 2020.

As of Mar. 2024, Tesla's interest expense (positive number) was $203 Mil. Its total Book Value of Debt (D) is $7811.2 Mil. Cost of Debt = 203 / 7811.2 = 2.5988%.

Total debt on the balance sheet as of March 2024 : $9.91 B

According to Tesla's latest financial reports the company's total debt is $9.91 B. A company's total debt is the sum of all current and non-current debts.

The largest individual Tesla shareholder is Elon Musk, who owns about 13% of the company's common stock. Vanguard and BlackRock are the two largest institutional investors, owning about 7.2% and 5.9% of outstanding shares, respectively.

Tesla shares slide to 15-month low ahead of earnings, as Wall Street frets over price cuts, layoffs. Tesla's stock dropped for a seventh straight day Monday, reaching its lowest price since January 2023. Over the weekend, the company cut electric vehicle prices in the U.S., China and Europe.

Tesla Price Cuts Are Bringing Down the Market. Amid increased competition from the likes of Ford, Mercedes-Benz and Rivian (and globally from BYD), Tesla has been cutting prices on its models on a regular basis to meet delivery goals.

Tesla stock prediction for 1 year from now: $ 421.82 (135.14%) Tesla stock forecast for 2025: $ 230.05 (27.81%) Tesla stock prediction for 2030: $ 784.52 (335.86%)

Tesla (TSLA) stock is angling lower in 2024, falling around 30% as analysts project 2024 vehicle deliveries could undercut last year's total with profit forecasts continuing to fall ahead of first-quarter earnings.