Tesla (NASDAQ:TSLA) Shares Down 0.3%

Tesla, Inc. (NASDAQ:TSLA) shares fell 0.3% during mid-day trading on Monday . The stock traded as low as $258.10 and last traded at $259.71. 25,611,697 shares traded hands during trading, a decline of 73% from the average session volume of 95,437,375 shares. The stock had previously closed at $260.46.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TSLA. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Piper Sandler lifted their target price on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Argus reissued a “buy” rating and issued a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, June 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Nine 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 company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $209.90.

Tesla Stock Down 1.4 %

The company’s 50-day moving average price is $222.33 and its 200 day moving average price is $200.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market cap of $824.28 billion, a PE ratio of 65.82, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced 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 for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of 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 three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new position in shares of Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its holdings 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 worth $26,000 after purchasing an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in Tesla during the fourth quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC boosted its stake in Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 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.