Tesla (NASDAQ:TSLA) Shares Down 0.8%

Tesla, Inc. (NASDAQ:TSLA)’s share price traded down 0.8% during trading on Wednesday . The company traded as low as $206.27 and last traded at $207.57. 17,524,287 shares were traded during mid-day trading, a decline of 82% from the average session volume of 97,673,359 shares. The stock had previously closed at $209.21.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Truist Financial reissued a “hold” rating and issued a $215.00 target price on shares of Tesla in a report on Wednesday, August 14th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. HSBC lifted their price objective on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Finally, Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $204.21.

Tesla Price Performance

The firm has a market capitalization of $664.07 billion, a P/E ratio of 52.62, a price-to-earnings-growth ratio of 5.52 and a beta of 2.31. The firm has a 50 day moving average price of $220.88 and a 200-day moving average price of $192.54. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on 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 transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on 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 transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Institutional Trading of Tesla

A number of institutional investors have recently made changes to their positions in the business. Integris Wealth Management LLC boosted its position in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC boosted its position in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co boosted its position in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC lifted its position in 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 acquiring an additional 45 shares during the period. Finally, Cypress Capital Group lifted its position in 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 acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

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.