Tesla (NASDAQ:TSLA) Shares Down 0.3%

Tesla, Inc. (NASDAQ:TSLA) shares were down 0.3% during mid-day trading on Monday . The stock traded as low as $258.10 and last traded at $259.71. Approximately 25,611,697 shares were traded during trading, a decline of 73% from the average daily volume of 95,437,375 shares. The stock had previously closed at $260.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. William Blair started coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. HSBC boosted their price objective on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective on the stock. Truist Financial reaffirmed a “hold” rating and issued a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. Finally, Mizuho lifted their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $209.90.

Tesla Trading Down 0.8 %

The stock has a market cap of $824.38 billion, a P/E ratio of 66.25, a PEG ratio of 6.92 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The business’s 50 day simple moving average is $221.89 and its 200 day simple moving average is $198.88.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share 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 firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. On average, analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following 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 legal filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 in the last three months. Insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter valued at about $25,000. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Tesla in the second quarter valued at $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Finally, Guardian Wealth Management Inc. acquired a new stake in Tesla in the fourth quarter valued at $47,000. 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.