Tesla (NASDAQ:TSLA) Shares Down 0.5%

Shares of Tesla, Inc. (NASDAQ:TSLA) traded down 0.5% during trading on Friday . The stock traded as low as $226.32 and last traded at $228.73. 19,580,113 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 96,590,000 shares. The stock had previously closed at $229.81.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. HSBC increased their price target on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. TD Cowen boosted their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $209.60.

Tesla Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business has a 50-day simple moving average of $223.37 and a 200 day simple moving average of $194.63. The firm has a market cap of $735.69 billion, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. On average, analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Hedge funds have recently made changes to their positions in the stock. FIDELIS iM LLC bought a new position in shares of Tesla during the second quarter valued at $2,089,000. Newbridge Financial Services Group Inc. increased its stake in Tesla by 19.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 29,156 shares of the electric vehicle producer’s stock valued at $5,769,000 after purchasing an additional 4,690 shares in the last quarter. Brightwater Advisory LLC purchased a new position in Tesla in the second quarter worth about $332,000. Heritage Wealth Management Inc. bought a new position in shares of Tesla in the second quarter worth approximately $269,000. Finally, Lazari Capital Management Inc. grew its holdings in shares of Tesla by 3.8% during the second quarter. Lazari Capital Management Inc. now owns 11,003 shares of the electric vehicle producer’s stock valued at $2,177,000 after buying an additional 399 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

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.