Tesla (NASDAQ:TSLA) Stock Price Down 3.7%

Tesla, Inc. (NASDAQ:TSLA) traded down 3.7% during trading on Tuesday . The stock traded as low as $248.66 and last traded at $251.84. 31,629,754 shares changed hands during trading, a decline of 67% from the average session volume of 95,392,164 shares. The stock had previously closed at $261.63.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLA. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Barclays reduced their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. HSBC raised their target price on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Finally, Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned 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 an average target price of $209.90.

Tesla Stock 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 company has a market capitalization of $818.08 billion, a PE ratio of 64.25, a P/E/G ratio of 7.08 and a beta of 2.29. The business’s 50 day simple moving average is $222.10 and its 200 day simple moving average is $199.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS 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 analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s 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 $14,967,479.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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 transaction, 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. In the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by insiders.

Institutional Trading of Tesla

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC raised its stake 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 valued at $26,000 after acquiring an additional 81 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the fourth quarter valued at $37,000. Finally, Kessler Investment Group LLC grew its stake in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

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.