Tesla (NASDAQ:TSLA) Trading Down 1%

Tesla, Inc. (NASDAQ:TSLA) traded down 1% during mid-day trading on Wednesday . The stock traded as low as $197.17 and last traded at $198.68. 24,402,535 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 100,217,969 shares. The stock had previously closed at $200.64.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Monday, July 29th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Glj Research upped their target price on Tesla from $22.86 to $24.86 and gave the company a “sell” rating in a research note on Tuesday, July 23rd. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research note on Wednesday, July 24th. Finally, Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a research note on Wednesday, April 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $204.30.

Tesla Stock Down 3.8 %

The firm has a market cap of $615.39 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 5.37 and a beta of 2.31. The firm has a 50 day moving average of $210.88 and a 200 day moving average of $190.53. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS 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 company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla 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 value of $113,236.50. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 650 shares of the 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 transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently modified their holdings of TSLA. Vanguard Group Inc. lifted its position in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Norges Bank purchased a new position in Tesla in the fourth quarter worth $7,844,757,000. Charles Schwab Investment Management Inc. raised its position in Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after purchasing an additional 458,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Hedge funds and other institutional investors 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.