Tesla (NASDAQ:TSLA) Issues Quarterly Earnings Results, Misses Expectations By $0.26 EPS

Tesla (NASDAQ:TSLA) announced its quarterly earnings data on Tuesday. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26), RTT News reports. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the business posted $0.45 earnings per share.

Tesla Trading Up 5.5 %

Tesla stock opened at $251.07 on Thursday. The stock has a market cap of $807.56 billion, a PE ratio of 123.07, a P/E/G ratio of 5.86 and a beta of 2.58. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $267.29 and a 200 day moving average price of $322.05. Tesla has a 52 week low of $157.51 and a 52 week high of $488.54.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley restated a “buy” rating on shares of Tesla in a research note on Tuesday. Cantor Fitzgerald decreased their target price on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday. Benchmark reissued a “buy” rating and issued a $350.00 price objective on shares of Tesla in a report on Wednesday. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. Finally, HSBC lowered their price target on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $283.24.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $41,745,581.15. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 374,228 shares of company stock valued at $123,791,123. Company insiders own 20.70% of the company’s stock.

Institutional Investors Weigh In On Tesla

An institutional investor recently raised its position in Tesla stock. Revolve Wealth Partners LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,317 shares of the electric vehicle producer’s stock after purchasing an additional 931 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Tesla were worth $2,147,000 at the end of the most recent quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

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.