Tesla (NASDAQ:TSLA) Trading Down 1.2%

Tesla, Inc. (NASDAQ:TSLA) shares traded down 1.2% during mid-day trading on Thursday . The stock traded as low as $244.44 and last traded at $245.96. 22,320,133 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 95,294,188 shares. The stock had previously closed at $249.02.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Citigroup lowered their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. KGI Securities reissued a “neutral” rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Wolfe Research began coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating 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 issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $210.54.

Tesla Stock Down 4.3 %

The company has a fifty day moving average price of $222.99 and a 200-day moving average price of $200.58. The stock has a market capitalization of $761.15 billion, a P/E ratio of 61.06, a PEG ratio of 7.08 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its 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 business had revenue of $25.50 billion during 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 for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. 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 ninety days. 25.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Tesla

Institutional investors have recently made changes to their positions in the stock. Clean Energy Transition LLP increased its holdings 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 purchasing an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 21,816.0% in the 2nd 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. Vanguard Group Inc. lifted its position 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 buying an additional 3,866,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Tesla by 12.9% in the first 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 acquiring an additional 1,125,329 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.