Tesla (NASDAQ:TSLA) Stock Price Down 0.3% – Here’s Why

Tesla, Inc. (NASDAQ:TSLA) shares were down 0.3% during mid-day trading on Monday . The company traded as low as $238.88 and last traded at $248.11. Approximately 29,314,993 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 93,862,039 shares. The stock had previously closed at $248.98.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSLA shares. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Barclays increased their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $219.45.

Tesla Price Performance

The company has a market cap of $785.69 billion, a PE ratio of 67.98, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29. The business’s 50 day moving average price is $234.14 and its 200-day moving average price is $211.15. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,297 shares of company stock worth $3,065,866. Insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently added to or reduced their stakes in the stock. Stockman Wealth Management Inc. increased its position in Tesla by 15.9% in the third quarter. Stockman Wealth Management Inc. now owns 1,875 shares of the electric vehicle producer’s stock worth $491,000 after buying an additional 257 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Tesla by 0.8% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 12,959 shares of the electric vehicle producer’s stock valued at $3,390,000 after purchasing an additional 101 shares during the period. Meritage Portfolio Management acquired a new position in shares of Tesla during the third quarter valued at $221,000. Crossmark Global Holdings Inc. increased its holdings in shares of Tesla by 4.6% during the third quarter. Crossmark Global Holdings Inc. now owns 127,014 shares of the electric vehicle producer’s stock valued at $33,230,000 after purchasing an additional 5,579 shares during the period. Finally, Tyler Stone Wealth Management increased its holdings in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

About Tesla

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.