Tesla (NASDAQ:TSLA) Trading Down 2.3%

Tesla, Inc. (NASDAQ:TSLA)’s share price dropped 2.3% during trading on Thursday . The stock traded as low as $226.42 and last traded at $226.73. Approximately 19,339,764 shares changed hands during trading, a decline of 81% from the average daily volume of 100,591,945 shares. The stock had previously closed at $232.07.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Argus reiterated a “buy” rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Wells Fargo & Company restated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, July 1st. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Thursday. TD Cowen boosted their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, KGI Securities reiterated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $204.30.

Tesla Price Performance

The business’s 50 day moving average price is $208.58 and its two-hundred day moving average price is $190.97. The stock has a market cap of $688.73 billion, a P/E ratio of 56.34, a price-to-earnings-growth ratio of 5.76 and a beta of 2.31. 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 announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. As a group, sell-side analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Insiders sold 160,719 shares of company stock valued at $32,032,968 over the last three months. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Apexium Financial LP grew its position in shares of Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after buying an additional 21,972 shares during the last quarter. Mount Vernon Associates Inc. MD grew its position in 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 worth $1,724,000 after purchasing an additional 350 shares during the last quarter. Forum Financial Management LP grew its position in Tesla by 19.7% during the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. lifted its stake in 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 acquiring an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC lifted its stake in shares of Tesla by 9.4% in 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 period. Institutional investors own 66.20% of the company’s stock.

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.