Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s share price was down 2% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $320.12 and last traded at $322.51. Approximately 23,978,306 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 100,476,541 shares. The stock had previously closed at $329.13.
Specifically, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on TSLA shares. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Argus restated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Piper Sandler restated an “overweight” rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Finally, Glj Research restated a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $293.67.
Tesla Price Performance
The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.04 trillion, a PE ratio of 176.95, a P/E/G ratio of 11.88 and a beta of 2.47. The firm has a 50 day moving average of $303.42 and a two-hundred day moving average of $332.59.
Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Institutional Trading of Tesla
Institutional investors have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla during the 4th quarter valued at $56,600,000. Focus Financial Network Inc. boosted its stake in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its stake in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. purchased a new stake in Tesla during the 4th quarter valued at $8,158,000. Finally, Blackston Financial Advisory Group LLC boosted its stake in shares of Tesla by 40.4% in the 1st quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer’s stock worth $788,000 after buying an additional 874 shares during 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.
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