Tesla (NASDAQ:TSLA) Trading Down 2.3%

Shares of Tesla, Inc. (NASDAQ:TSLA) fell 2.3% during trading on Monday . The company traded as low as $223.53 and last traded at $225.10. 18,582,145 shares changed hands during trading, a decline of 81% from the average session volume of 96,376,109 shares. The stock had previously closed at $230.29.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. William Blair began coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Glj Research reissued a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, September 5th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Down 1.3 %

The firm has a 50 day moving average price of $223.37 and a 200-day moving average price of $194.57. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $724.97 billion, a price-to-earnings ratio of 57.79, a P/E/G ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly 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 during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was 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 approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Integris Wealth Management LLC raised its position in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the last quarter. Echo Wealth Management LLC raised its holdings in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co lifted its position in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares during the period. Bellevue Asset Management LLC increased its position in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the period. Finally, Cypress Capital Group lifted its position in Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the period. 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.