Tesla, Inc. (NASDAQ:TSLA – Get Free Report)’s stock price fell 1.9% during trading on Friday . The stock traded as low as $178.22 and last traded at $179.00. 37,532,763 shares were traded during trading, a decline of 61% from the average session volume of 96,382,359 shares. The stock had previously closed at $182.47.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Tesla from $294.00 to $293.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Wedbush reaffirmed an “outperform” rating and issued a $275.00 price target on shares of Tesla in a research note on Friday. Mizuho cut their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $185.90.
Read Our Latest Stock Analysis on Tesla
Tesla Trading Down 2.5 %
The firm’s 50-day moving average is $172.64 and its 200-day moving average is $196.09. 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 firm has a market cap of $567.58 billion, a price-to-earnings ratio of 45.69, a P/E/G ratio of 4.40 and a beta of 2.32.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.87 EPS for the current fiscal year.
Insider Buying and Selling at Tesla
In other news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on 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 directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Insiders sold 104,855 shares of company stock valued at $19,285,643 in the last quarter. 25.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Apexium Financial LP raised its stake in shares of Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after acquiring an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD grew its holdings in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Tesla by 16.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in shares of Tesla by 9.4% in the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after purchasing an additional 598 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.
Tesla Company Profile
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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