Tesla (NASDAQ:TSLA) Trading Down 2.3% – Here’s What Happened

Shares of Tesla, Inc. (NASDAQ:TSLAGet Free Report) traded down 2.3% during mid-day trading on Monday . The company traded as low as $243.91 and last traded at $244.32. 23,041,535 shares were traded during mid-day trading, a decline of 76% from the average session volume of 95,178,070 shares. The stock had previously closed at $250.08.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Stifel Nicolaus started coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Wells Fargo & Company restated an “underweight” rating and set a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Finally, The Goldman Sachs Group decreased their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Nine investment 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $210.90.

Get Our Latest Report on TSLA

Tesla Stock Up 1.5 %

The company’s 50 day moving average price is $224.61 and its two-hundred day moving average price is $202.78. 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 $781.09 billion, a PE ratio of 62.37, a PEG ratio of 6.80 and a beta of 2.29.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 sale, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. 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 90 days. 25.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tesla

A number of large investors have recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Clean Yield Group raised its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

About Tesla

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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.

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