Tesla (NASDAQ:TSLA) Stock Price Down 1.8% Following Weak Earnings

Tesla, Inc. (NASDAQ:TSLA)’s stock price fell 1.8% on Wednesday following a dissappointing earnings announcement. The company traded as low as $390.65 and last traded at $390.86. 14,591,859 shares changed hands during trading, a decline of 79% from the average session volume of 70,774,664 shares. The stock had previously closed at $398.09.

The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.54%.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $440.00 price target on shares of Tesla in a research report on Thursday. Evercore ISI upped their price objective on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $318.31.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 553,386 shares of company stock valued at $196,305,796 over the last three months. 20.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Hedge funds have recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter worth about $29,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in Tesla during the 4th quarter worth approximately $46,000. PayPay Securities Corp increased its position in Tesla by 130.2% in the 4th quarter. PayPay Securities Corp now owns 122 shares of the electric vehicle producer’s stock valued at $49,000 after acquiring an additional 69 shares during the period. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla in the third quarter worth $35,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 4.0 %

The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 203.96, a P/E/G ratio of 8.08 and a beta of 2.30. The stock has a fifty day moving average of $403.18 and a two-hundred day moving average of $297.99. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

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.