Tesla (NASDAQ:TSLA) Stock Price Down 1.1% – What’s Next?

Tesla, Inc. (NASDAQ:TSLA) dropped 1.1% on Thursday . The company traded as low as $252.65 and last traded at $254.66. Approximately 19,520,184 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 94,129,547 shares. The stock had previously closed at $257.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TSLA shares. Canaccord Genuity Group boosted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $219.45.

Tesla Stock Performance

The firm has a 50 day moving average of $234.14 and a two-hundred day moving average of $210.39. The stock has a market cap of $799.24 billion, a PE ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. 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 (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,297 shares of company stock worth $3,065,866. 20.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Vanguard Group Inc. grew its holdings in Tesla by 1.7% in 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. International Assets Investment Management LLC boosted its stake in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of Tesla by 15.3% during the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after acquiring an additional 688,717 shares during the last quarter. Institutional investors and hedge funds 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.