Tesla (NASDAQ:TSLA) Trading Down 1.8%

Tesla, Inc. (NASDAQ:TSLA)’s share price was down 1.8% on Friday . The company traded as low as $238.24 and last traded at $239.64. Approximately 29,479,145 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 95,976,008 shares. The stock had previously closed at $243.92.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday, September 5th. The Goldman Sachs Group cut their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. Argus reaffirmed a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Finally, China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a report on Friday, July 5th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Trading Down 2.1 %

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 stock has a market cap of $761.58 billion, a price-to-earnings ratio of 61.13, a P/E/G ratio of 6.00 and a beta of 2.29. The business’s 50 day moving average is $221.50 and its 200 day moving average is $195.49.

Tesla (NASDAQ:TSLA) last issued its earnings results 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). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. As a group, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated 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 in the company, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred 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 $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund raised its stake 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 buying an additional 1,479,378 shares during the last quarter. FIDELIS iM LLC acquired a new position in Tesla during the second quarter worth about $2,089,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Tesla by 19.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 29,156 shares of the electric vehicle producer’s stock valued at $5,769,000 after purchasing an additional 4,690 shares in the last quarter. Brightwater Advisory LLC acquired a new stake in shares of Tesla in the second quarter valued at approximately $332,000. Finally, Heritage Wealth Management Inc. purchased a new position in shares of Tesla during the 2nd quarter worth approximately $269,000. 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.