Tesla (NASDAQ:TSLA) Trading Down 2.3%

Tesla, Inc. (NASDAQ:TSLA)’s stock price traded down 2.3% during trading on Thursday . The company traded as low as $226.42 and last traded at $226.73. 19,339,764 shares were traded during mid-day trading, a decline of 81% from the average session volume of 100,591,945 shares. The stock had previously closed at $232.07.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Monday, July 29th. Citigroup cut their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $204.30.

Tesla Price Performance

The firm’s 50-day moving average price is $210.01 and its 200-day moving average price is $191.08. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $663.43 billion, a PE ratio of 52.98, a PEG ratio of 5.60 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,719 shares of company stock worth $32,032,968. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Financial Security Advisor Inc. lifted its position in Tesla by 6.2% during the fourth quarter. Financial Security Advisor Inc. now owns 3,253 shares of the electric vehicle producer’s stock valued at $808,000 after acquiring an additional 190 shares during the last quarter. Arvest Trust Co. N A lifted its position in Tesla by 36.3% during the fourth quarter. Arvest Trust Co. N A now owns 2,901 shares of the electric vehicle producer’s stock valued at $721,000 after acquiring an additional 773 shares during the last quarter. Advisors Preferred LLC raised its holdings in shares of Tesla by 65.3% in the fourth quarter. Advisors Preferred LLC now owns 395 shares of the electric vehicle producer’s stock worth $98,000 after buying an additional 156 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Tesla by 7.7% in the fourth quarter. Allworth Financial LP now owns 50,301 shares of the electric vehicle producer’s stock worth $12,499,000 after buying an additional 3,597 shares during the last quarter. Finally, Cullinan Associates Inc. raised its holdings in shares of Tesla by 3.5% in the fourth quarter. Cullinan Associates Inc. now owns 23,600 shares of the electric vehicle producer’s stock worth $5,864,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.