Image from MarketBeat Media, LLC. Key Points CICC Research raised its price target on Tesla to $500 from $450 and kept an "outperform" rating, implying roughly a 4.7% upside; several other firms (TD Cowen $509, Roth $505) also raised targets while the MarketBeat consensus average target is $402.25 with an overall "Hold" rating. Tesla beat quarterly expectations, reporting $0.50 EPS vs. $0.48 est. and $28.10B revenue vs. $24.98B est. (revenue +11.6% YoY); the stock traded near $477 with a market cap of about $1.59 trillion and a high P/E (~317). Insider selling noted: Director Kimbal Musk sold 56,820 shares (~$25.6M) and CFO Vaibhav Taneja sold 2,637 shares, though corporate insiders still own about 19.9% of the company. Tesla Bulls See $500 Ahead—But Bears Warn of a Painful Reversal In related news, Director Kimbal Musk sold 56,820 shares of the company's stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares of the company's stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer owned 13,757 shares of the company's stock, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 19.90% of the company's stock. Institutional Inflows and Outflows A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chapman Financial Group LLC acquired a new stake in Tesla in the 2nd quarter worth about $26,000. Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC acquired a new stake in Tesla during the second quarter worth approximately $29,000. Manning & Napier Advisors LLC bought a new position in Tesla during the 3rd quarter worth $29,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla in the 2nd quarter valued at $30,000. Institutional investors own 66.20% of the company's stock. Tesla Company Profile