Tesla, Inc. (NASDAQ:TSLA – Get Rating)’s stock price fell 7% during mid-day trading on Friday . The company traded as low as $860.26 and last traded at $861.13. 1,364,056 shares changed hands during trading, a decline of 95% from the average session volume of 30,116,138 shares. The stock had previously closed at $925.90.
Analyst Ratings Changes
A number of research firms recently issued reports on TSLA. Cowen lifted their target price on Tesla from $700.00 to $733.00 and gave the stock a “market perform” rating in a report on Thursday, July 21st. Daiwa Capital Markets lifted their target price on Tesla to $930.00 in a report on Monday, July 25th. TheStreet raised Tesla from a “c+” rating to a “b-” rating in a report on Wednesday, April 27th. The Goldman Sachs Group lowered their target price on Tesla from $1,200.00 to $1,000.00 and set a “buy” rating on the stock in a report on Wednesday, June 1st. Finally, Mizuho increased their price target on Tesla from $1,150.00 to $1,175.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Eight equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $859.50.
Tesla Price Performance
The stock has a 50 day moving average price of $743.67 and a two-hundred day moving average price of $841.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 1.43. The company has a market capitalization of $902.97 billion, a PE ratio of 104.16, a P/E/G ratio of 2.80 and a beta of 2.17.
Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.46. Tesla had a return on equity of 29.04% and a net margin of 14.17%. The business had revenue of $16.93 billion for the quarter, compared to the consensus estimate of $16.92 billion. During the same period last year, the business earned $1.02 EPS. The firm’s revenue was up 41.6% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 10.58 earnings per share for the current year.
Insider Activity at Tesla
In related news, CAO Vaibhav Taneja sold 1,518 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $1,090,394.58. Following the transaction, the chief accounting officer now directly owns 26,449 shares of the company’s stock, valued at approximately $18,998,581.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 25,000 shares of Tesla stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $757.33, for a total value of $18,933,250.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $3,786,650. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Vaibhav Taneja sold 1,518 shares of Tesla stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $718.31, for a total value of $1,090,394.58. Following the completion of the transaction, the chief accounting officer now directly owns 26,449 shares in the company, valued at $18,998,581.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,239 shares of company stock valued at $53,099,879. Corporate insiders own 25.10% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in TSLA. AllSquare Wealth Management LLC grew its holdings in shares of Tesla by 766.7% during the 4th quarter. AllSquare Wealth Management LLC now owns 26 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. TFO TDC LLC acquired a new stake in shares of Tesla during the 2nd quarter worth approximately $27,000. Horan Securities Inc. grew its holdings in shares of Tesla by 164.3% during the 2nd quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in shares of Tesla during the 1st quarter worth approximately $28,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of Tesla during the 4th quarter worth approximately $32,000. 40.64% of the stock is owned by institutional investors.
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.
Further Reading
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Read More: Tesla (NASDAQ:TSLA) Stock Price Down 7%