Image from MarketBeat Media, LLC. Key Points MFG Wealth Management cut its stake in Tesla by 45.4%, selling 3,924 shares and finishing the quarter with 4,717 shares worth about $2.10 million while institutional ownership remains around 66.2%. Tesla beat the quarter with EPS $0.50 (vs. $0.48) and revenue of $28.10 billion, but carries a rich valuation (market cap ≈ $1.6T, P/E ≈ 320.8) and a MarketBeat consensus rating of "Hold" with a $404.14 target. Notable insider selling: CFO Vaibhav Taneja sold 2,637 shares and director Kimbal Musk sold 56,820 shares, reducing insider ownership to about 19.9%. Is Tesla Overvalued? 2 Reasons It Might Be a Bargain Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analysts' expectations of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year. Insider Activity at Tesla In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the business's stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the sale, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 56,820 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the sale, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 19.90% of the stock is owned by insiders. Tesla News Summary