Tesla (NASDAQ:TSLA) Shares Gap Down to $258.02

Tesla, Inc. (NASDAQ:TSLA) gapped down prior to trading on Wednesday . The stock had previously closed at $258.02, but opened at $247.55. Tesla shares last traded at $245.53, with a volume of 19,915,037 shares.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Thursday, September 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $224.00 price target on shares of Tesla in a research report on Wednesday, September 25th. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $209.90.

Tesla Price Performance

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 company has a market capitalization of $797.00 billion, a PE ratio of 62.04, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. The company’s 50 day simple moving average is $222.33 and its 200 day simple moving average is $200.24.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on 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 disclosure for this sale can be found here. Insiders have sold a total of 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

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its holdings in Tesla by 46.3% in the 4th quarter. Jones Financial Companies Lllp now owns 6,296 shares of the electric vehicle producer’s stock valued at $1,564,000 after buying an additional 1,993 shares during the period. Peapack Gladstone Financial Corp lifted its position in Tesla by 6.4% during the 4th quarter. Peapack Gladstone Financial Corp now owns 18,771 shares of the electric vehicle producer’s stock worth $4,666,000 after acquiring an additional 1,135 shares in the last quarter. Edge Capital Group LLC lifted its position in Tesla by 17.9% during the 4th quarter. Edge Capital Group LLC now owns 1,195 shares of the electric vehicle producer’s stock worth $297,000 after acquiring an additional 181 shares in the last quarter. Capital International Ltd. CA lifted its position in Tesla by 0.8% during the 4th quarter. Capital International Ltd. CA now owns 275,997 shares of the electric vehicle producer’s stock worth $68,580,000 after acquiring an additional 2,143 shares in the last quarter. Finally, Capital International Sarl lifted its position in Tesla by 11.6% during the 4th quarter. Capital International Sarl now owns 305,164 shares of the electric vehicle producer’s stock worth $75,827,000 after acquiring an additional 31,842 shares in the last quarter. Institutional investors and hedge funds 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.