Tesla (NASDAQ:TSLA) Stock Price Down 2.4%

Tesla (NASDAQ:TSLA) Stock Price Down 2.4%

Tesla, Inc. (NASDAQ:TSLAGet Free Report)’s stock price fell 2.4% on Tuesday . The stock traded as low as $167.70 and last traded at $169.64. 23,979,031 shares traded hands during trading, a decline of 75% from the average session volume of 96,442,453 shares. The stock had previously closed at $173.79.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price target on Tesla from $294.00 to $293.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. The Goldman Sachs Group decreased their price objective on Tesla from $190.00 to $175.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $185.90.

Get Our Latest Report on TSLA

Tesla Stock Down 2.9 %

The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $538.37 billion, a P/E ratio of 43.28, a P/E/G ratio of 4.40 and a beta of 2.32. The stock’s 50-day moving average price is $172.15 and its two-hundred day moving average price is $196.77.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, research analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at $5,502,726. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,855 shares of company stock worth $19,285,643. Corporate insiders own 20.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Holderness Investments Co. raised its position in shares of Tesla by 1.6% in the 3rd quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after acquiring an additional 42 shares in the last quarter. SCS Capital Management LLC lifted its stake in shares of Tesla by 0.3% in the third quarter. SCS Capital Management LLC now owns 16,881 shares of the electric vehicle producer’s stock worth $4,224,000 after buying an additional 45 shares in the last quarter. Daymark Wealth Partners LLC lifted its position in Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after acquiring an additional 45 shares in the last quarter. Cravens & Co Advisors LLC lifted its stake in Tesla by 1.2% during the 3rd quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock valued at $1,025,000 after acquiring an additional 48 shares during the period. Finally, Patten & Patten Inc. TN boosted its holdings in Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

About Tesla

(Get Free Report)

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.

Further Reading

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