Tesla (NASDAQ:TSLA) Stock Price Down 0.5%

Tesla, Inc. (NASDAQ:TSLA) shares traded down 0.5% during trading on Wednesday . The company traded as low as $257.86 and last traded at $261.01. 46,353,035 shares changed hands during trading, a decline of 53% from the average session volume of 98,069,836 shares. The stock had previously closed at $262.33.

Analyst Ratings Changes

A number of research firms recently weighed in on TSLA. Evercore ISI lowered their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a report on Monday, April 29th. HSBC decreased their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating for the company in a research note on Wednesday, April 24th. Canaccord Genuity Group raised their target price on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Barclays dropped their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Finally, Royal Bank of Canada lowered their price objective on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $195.06.

Tesla Trading Up 0.6 %

The business’s 50 day moving average price is $188.52 and its 200-day moving average price is $190.90. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The company has a market cap of $841.53 billion, a price-to-earnings ratio of 66.64, a PEG ratio of 6.27 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, equities analysts anticipate that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tesla

Several hedge funds have recently bought and sold shares of TSLA. Apexium Financial LP grew its holdings in shares of Tesla by 736.8% during the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 5.3% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Tesla by 16.6% during the 4th quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock valued at $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in shares of Tesla by 9.4% during the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after purchasing an additional 598 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.