Tesla (NASDAQ:TSLA) Shares Down 3.7%

Shares of Tesla, Inc. (NASDAQ:TSLA) traded down 3.7% on Tuesday . The company traded as low as $248.66 and last traded at $251.84. 31,629,754 shares were traded during trading, a decline of 67% from the average session volume of 95,392,164 shares. The stock had previously closed at $261.63.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $224.00 price target on shares of Tesla in a research note on Wednesday, September 25th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, September 5th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. Mizuho upped their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Finally, UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $209.90.

Tesla Trading Down 2.1 %

The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $222.10 and its two-hundred day moving average price is $199.58. The firm has a market cap of $818.08 billion, a PE ratio of 64.25, a P/E/G ratio of 7.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. Company insiders own 25.10% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently bought and sold shares of TSLA. Clean Energy Transition LLP grew its stake in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC grew its position in shares of Tesla by 21,816.0% in 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 purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Tesla by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after purchasing an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares in 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.