Tesla (NASDAQ:TSLA) Trading Down 0.3%

Tesla, Inc. (NASDAQ:TSLA)’s stock price fell 0.3% during trading on Thursday . The company traded as low as $224.01 and last traded at $227.45. 28,820,646 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 96,782,102 shares. The stock had previously closed at $228.13.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Wolfe Research began coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. TD Cowen boosted their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Guggenheim lifted their price objective on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and upped their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $209.60.

Tesla Stock Performance

The firm has a 50-day moving average of $223.37 and a 200-day moving average of $194.66. 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 $735.69 billion, a price-to-earnings ratio of 58.75, a P/E/G ratio of 6.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently modified their holdings of the business. Integris Wealth Management LLC increased its holdings in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the last quarter. Echo Wealth Management LLC increased its stake in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co raised its position in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the period. Bellevue Asset Management LLC grew its holdings in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. Finally, Cypress Capital Group increased its position in shares of Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the last quarter. 66.20% of the stock is currently 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.