Tesla (NASDAQ:TSLA) Trading Down 2.3%

Shares of Tesla, Inc. (NASDAQ:TSLA) were down 2.3% on Monday . The stock traded as low as $223.53 and last traded at $225.10. Approximately 18,582,145 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 96,376,109 shares. The stock had previously closed at $230.29.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their target price for the company from $147.00 to $197.00 in a research report on Friday, July 12th. KGI Securities reissued a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Piper Sandler reissued an “overweight” rating and set a $300.00 price target on shares of Tesla in a research report on Monday, August 19th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $209.60.

Tesla Trading Down 1.3 %

The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $223.37 and its 200-day moving average price is $194.57. The firm has a market cap of $724.97 billion, a price-to-earnings ratio of 57.79, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results 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%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction 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 sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC raised its position in 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 purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

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.